Cingulate (NASDAQ:CING) Raised to Buy at Maxim Group

Cingulate (NASDAQ:CING) was upgraded by investment analysts at Maxim Group from a “hold” rating to a “buy” rating in a research note issued on Wednesday,Benzinga reports.

Cingulate Price Performance

CING stock opened at $4.66 on Wednesday. The company’s fifty day moving average price is $4.54 and its 200-day moving average price is $3.16. Cingulate has a one year low of $1.80 and a one year high of $152.40.

Cingulate (NASDAQ:CING) last released its quarterly earnings data on Thursday, November 7th. The company reported ($1.83) EPS for the quarter, beating the consensus estimate of ($2.22) by $0.39. As a group, analysts anticipate that Cingulate will post -9.26 earnings per share for the current fiscal year.

Institutional Trading of Cingulate

A hedge fund recently bought a new stake in Cingulate stock. Armistice Capital LLC bought a new stake in Cingulate Inc. (NASDAQ:CING) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 490,000 shares of the company’s stock, valued at approximately $157,000. Armistice Capital LLC owned approximately 6.67% of Cingulate as of its most recent filing with the Securities & Exchange Commission. 41.31% of the stock is owned by institutional investors.

Cingulate Company Profile

Cingulate Inc, a biopharmaceutical company, focuses on the development of pharmaceutical products for the treatment of attention deficit/hyperactivity disorder and anxiety in the United States. The company’s stimulant medications are CTx-1301 (dexmethylphenidate), which is in phase 3 clinical trial, as well as CTx-1302 (dextroamphetamine), which is in investigational new drug application development for the treatment of attention deficit/hyperactivity disorder intended for children, adolescents, and adults.