HC Wainwright & Co. Maintains Buy Rating for Cingulate: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
HC Wainwright & Co. has reaffirmed its Buy rating on Cingulate Inc (NASDAQ:CING) and increased its price target from $3.50 to $8.00. Cingulate's shares are currently trading at $7.15, down 0.56% over the last 24 hours. The new price target suggests a potential upside of 11.89%. Cingulate is a clinical stage biopharmaceutical company focused on developing pharmaceutical products with its proprietary drug delivery platform.
January 05, 2024 | 5:00 pm
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HC Wainwright & Co. maintains a Buy rating on Cingulate and raises the price target to $8.00, indicating a potential 11.89% increase from the current price of $7.15.
The reaffirmation of a Buy rating and an increased price target by a reputable analyst firm like HC Wainwright & Co. typically instills confidence in investors and can lead to a positive short-term impact on the stock price. The new price target is significantly higher than the current trading price, which may encourage investors to anticipate future growth, potentially driving up the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100