Naz Rahman, an analyst from Maxim Group, reiterated the Buy rating on Cingulate Inc (CING – Research Report). The associated price target remains the same with $8.00.
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Naz Rahman has given his Buy rating due to a combination of factors surrounding Cingulate Inc.’s promising developments in their ADHD treatment, CTx-1301. The company recently completed a food effect study that demonstrated CTx-1301 can be administered effectively with or without food, which is a significant milestone for their New Drug Application (NDA) submission planned for mid-2025. This study’s positive results, along with prior safety analyses, suggest a potential approval by mid-2026, enhancing the drug’s commercial prospects.
Furthermore, CTx-1301 has shown potential to be best-in-class in terms of onset and duration for ADHD treatment, which is a crucial differentiator in the market. Given the current shortages of stimulant medications, particularly generic options, the once-daily dosing of CTx-1301 positions Cingulate favorably in the market. The FDA’s indication that existing data is sufficient for the NDA filing further supports the company’s strategic position, reinforcing the Buy recommendation.
In another report released today, Roth MKM also reiterated a Buy rating on the stock with a $12.00 price target.
CING’s price has also changed slightly for the past six months – from $4.390 to $4.180, which is a -4.78% drop .