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Investing.com - Ascendiant Capital has raised its price target on Cingulate (NASDAQ:CING) to $62.00 from $61.00 while maintaining a Buy rating on the stock. With shares currently trading at $3.99, this target implies significant upside potential, though InvestingPro data indicates the company faces notable challenges with a WEAK financial health score of 1.27.
The research firm’s updated valuation represents significant upside potential from the pharmaceutical company’s current share price.
Ascendiant Capital based its new price target on a net present value (NPV) analysis of the company.
The firm indicated that the revised target appropriately balances the high risks associated with the stock against its large upside opportunities.
Cingulate, which focuses on developing innovative treatments for attention deficit/hyperactivity disorder (ADHD) and other central nervous system conditions, continues to receive a positive outlook from the research firm despite the risks. The company maintains a healthy current ratio of 1.52, though it reported negative earnings of $5.47 per share in the last twelve months.
In other recent news, Cingulate Inc. has submitted a New Drug Application (NDA) to the U.S. Food and Drug Administration for its ADHD treatment, CTx-1301. This extended-release tablet aims to provide fast onset and full-day efficacy with a single dose. The company received a fiscal year 2025 PDUFA fee waiver from the FDA, saving approximately $4.3 million. In leadership updates, Cingulate placed its CEO, Shane Schaffer, on administrative leave following a criminal charge. Jennifer Callahan, the current CFO, has been appointed as interim CEO, while Jay Roberts has been named Executive Chairman to support the management team. Additionally, Nilay Patel has been appointed as Chief Legal Officer, bringing over 20 years of legal experience to the company. These developments come as Cingulate focuses on advancing its ADHD treatment candidate through regulatory processes.
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