Cingulate

CING · NASDAQ

$4.53+$0.17 (+3.90%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $4.36

CING analyst rating

BuyConsensus of 3 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy3
Hold0
Underperform0
Sell0

12-month price target · 7 analysts

Average $21.62 (+377.4% upside)

Low: $8.08
Now: $4.53
High: $46.20

Upgrades and downgrades

The latest rating actions, newest first

CING analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Roth Capital	Aug 24, 2026	Maintains	Buy	$10.00 → $9.00	44%
Ascendiant Capital	Aug 20, 2026	Maintains	Buy	$52.00 → $44.00	28%
Ascendiant Capital	Jun 8, 2026	Maintains	Buy	$55.00 → $52.00	28%
HC Wainwright & Co.	May 26, 2026	Maintains	Buy	$20.00	43%
Ascendiant Capital	Apr 8, 2026	Maintains	Buy	$58.00 → $55.00	28%
Roth Capital	Mar 23, 2026	Maintains	Buy	$16.00 → $14.00	44%
Ascendiant Capital	Dec 8, 2025	Maintains	Buy	$62.00 → $58.00	28%
Roth Capital	Nov 19, 2025	Maintains	Buy	$17.00 → $16.00	44%

The case for and against

Updated Oct 14, 2026

Bull case

Cingulate is attractive because its lead asset CTx-1301 addresses a very large ADHD market, where millions of children and adults are treated and U.S. ADHD medication sales reached about $18 billion in 2020, supporting meaningful commercial upside if approved. The June 2, 2026 CRL cited CMC issues rather than safety or efficacy concerns, which preserves the core clinical thesis, while the FDA’s acceptance of the NDA and May 31, 2026 PDUFA underscore regulatory progress. Financially, the company reported $28.4M in cash and a mid-2027 runway, and the July 21 Prasco distribution agreement plus patent protection through 2042 strengthen the commercialization case.

Bear case

Cingulate is a clinical-stage company with no revenue, and its Q1 2026 net loss of $9.3 million, or $(0.95) per share, was materially wider than the $(0.38) estimate and $(0.45) consensus, underscoring heavy cash burn without operating leverage. Its lead program, CTx-1301, still faces FDA uncertainty after a CRL and three Form 483 observations, with approval depending on both CMC remediation and satisfactory facility remediation at Bend Bioscience. Even if financing is currently sufficient to address inspection issues, the lack of commercialization track record, the risk of delay beyond the currently projected 3Q27 launch, and potential dilution leave the stock fundamentally fragile.

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