In a report released yesterday, Naz Rahman from Maxim Group reiterated a Buy rating on Cingulate Inc (CING – Research Report), with a price target of $8.00.
Naz Rahman has given his Buy rating due to a combination of factors including Cingulate Inc’s strategic progress and promising clinical results. The company is preparing for a New Drug Application (NDA) submission for its ADHD treatment, CTx-1301, which has shown potential best-in-class onset and duration. This is particularly significant given the current stimulant shortages, positioning CTx-1301 as a competitive product with its once-daily dosing.
Additionally, Cingulate’s recent financial report indicates sufficient cash reserves to support operations through the NDA filing process. The positive safety outcomes from Phase 3 and food effect studies further bolster confidence in the drug’s market potential. These elements collectively contribute to the attractive commercial opportunity for Cingulate, justifying the Buy rating.
In another report released on March 31, Roth MKM also maintained a Buy rating on the stock with a $12.00 price target.
CING’s price has also changed moderately for the past six months – from $4.810 to $4.160, which is a -13.51% drop .