Maxim Group analyst Naz Rahman reiterated a Buy rating on Cingulate Inc yesterday and set a price target of $8.00.
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Naz Rahman has given his Buy rating due to a combination of factors surrounding Cingulate Inc.’s strategic advancements and partnerships. The acceptance of the NDA for CTx-1301 by the FDA marks a significant milestone for Cingulate, positioning the company to transition into pre-commercial activities. This drug, designed for ADHD treatment, promises a once-daily dosage with rapid and extended duration, which could be a game-changer given the current stimulant shortages.
Furthermore, Cingulate’s partnership with Indegene, a company with over two decades of experience in the pharmaceutical commercialization space, strengthens its market entry strategy. Indegene’s expertise in AI-driven analytics and its extensive network with major pharmaceutical companies are expected to facilitate a successful launch. This collaboration minimizes Cingulate’s operational risks and optimizes its commercialization efforts, enhancing the potential for CTx-1301 to capture significant market share.
According to TipRanks, Rahman is an analyst with an average return of -10.5% and a 33.64% success rate. Rahman covers the Healthcare sector, focusing on stocks such as Vivani Medical, Cingulate Inc, and Palisade Bio.
In another report released today, Roth MKM also assigned a Buy rating to the stock with a $17.00 price target.