Cingulate initiated with a Buy at Roth MKM

Roth MKM initiated coverage of Cingulate (CING) with a Buy rating and $12 price target The firm’s optimism is driven by CTx-1301’s Phase 3 data demonstrating entire active day efficacy in ADHD patients with an “industry-leading” average effect size. The company’s current pro forma cash position and potential near-term dilution could be balanced by CTx-1301’s new drug filing in mid-2025 and the potential to garner $1.6B in sales in 2035, the analyst tells investors in a research note.