Cingulate price target lowered to $16 from $17 at Roth Capital

Roth Capital analyst Boobalan Pachaiyappan lowered the firm’s price target on Cingulate (CING) to $16 from $17 and keeps a Buy rating on the shares after meeting with its management to discuss Q3 results. The company is ratcheting up its CTx-1301 U.S. pre-commercialization efforts through its Indegene partnership, though the firm is adjusting its model on expectation that Cingulate may choose to raise capital during the next 6 to 12 months, the analyst tells investors in a research note.