HC Wainwright & Co. Maintains Buy on Cingulate, Lowers Price Target to $3.5
Portfolio Pulse from Benzinga Newsdesk
HC Wainwright & Co. analyst Raghuram Selvaraju maintains a Buy rating on Cingulate (NASDAQ:CING) but lowers the price target from $5.5 to $3.5.
September 26, 2023 | 10:27 am
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NEUTRAL IMPACT
Despite a lowered price target, HC Wainwright & Co. maintains a Buy rating on Cingulate, indicating continued confidence in the company.
The lowered price target may initially cause some negative sentiment among investors, potentially leading to a short-term drop in Cingulate's stock price. However, the maintained Buy rating indicates that the analyst still sees potential in the company, which could balance out the initial negative impact.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100