Cingulate (NASDAQ:CING) Issues Earnings Results

Cingulate (NASDAQ:CING) posted its quarterly earnings results on Friday. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.05), FiscalAI reports.

Cingulate Trading Down 4.2%

NASDAQ:CING traded down $0.19 during mid-day trading on Friday, hitting $4.30. The company had a trading volume of 188,350 shares, compared to its average volume of 356,682. The firm has a market capitalization of $62.52 million, a price-to-earnings ratio of -1.20 and a beta of -0.88. Cingulate has a 1 year low of $3.16 and a 1 year high of $11.89. The business has a fifty day simple moving average of $4.87 and a 200-day simple moving average of $5.40.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CING shares. Roth Capital set a $9.00 target price on shares of Cingulate and gave the stock a “buy” rating in a research report on Sunday, August 23rd. Weiss Ratings downgraded shares of Cingulate from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, November 3rd. Finally, Wall Street Zen cut Cingulate from a “hold” rating to a “sell” rating in a report on Saturday, November 7th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.00.

Cingulate Company Profile

Cingulate Inc. (NASDAQ:CING) is a clinical-stage biopharmaceutical company focused on developing treatments for attention-deficit/hyperactivity disorder (ADHD) and other central nervous system conditions. The company’s lead programs are based on its proprietary Precision Timed Release (PTR) drug-delivery platform, which is designed to provide controlled, timed releases of medication from a single oral dose. Cingulate’s primary product candidate is CTx-1301, an extended-release formulation of dexmethylphenidate intended to provide all-day ADHD symptom control through multiple releases of the active ingredient.