H.C. Wainwright Affirms Buy Rating on Alto Neuroscience (ANRO), Sets $10 PT

On Tuesday, H.C. Wainwright analyst Patrick Trucchio reiterated a Buy rating on Alto Neuroscience Inc. (NYSE:ANRO) and set a price target of $10.00. This positive outlook is based on a strategic acquisition and promising clinical developments that are expected to enhance Alto’s position in the neuroscience therapeutics market.

H.C. Wainwright Affirms Buy Rating for Alto Neuroscience (ANRO), Sets $10 PT on Strategic Acquisition

A biopharmaceutical facility with technicians working on a manufacturing line of treatments and preventions.

Alto’s acquisition of ALTO-207, which is a fixed-dose combination of pramipexole and ondansetron, strengthens Alto’s clinical pipeline and complements its existing biomarker-driven platform. ALTO-207 is particularly significant as it targets treatment-resistant depression/TRD, which is an area with high unmet medical need in psychiatry. The acquisition is structured in a capital-efficient manner that preserves the company’s cash runway until 2028.

ALTO-207’s novel approach allows for faster titration and higher dose achievement, which has demonstrated significant antidepressant effects with good tolerability in a Phase 2a trial. The upcoming Phase 2b trial will further use Alto’s precision psychiatry platform by incorporating biomarker-enrichment strategies.

Alto Neuroscience Inc. (NYSE:ANRO) is a clinical-stage biopharmaceutical company in the US.

While we acknowledge the potential of ANRO to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ANRO and that has 100x upside potential, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.