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.

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