William Blair analyst Myles Minter has reiterated their bullish stance on ANRO stock, giving a Buy rating today.
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Myles Minter has given his Buy rating due to a combination of factors that highlight Alto Neuroscience, Inc.’s strategic advancements and financial positioning. The company is accelerating the development of its promising treatment for treatment-resistant depression, ALTO-207, following a productive FDA meeting. This includes plans to initiate a Phase III study by early 2027, alongside an ongoing Phase IIb study, which could potentially expedite the New Drug Application process by over a year.
Additionally, the financial backing through a $50 million private placement supports this accelerated development, providing the necessary capital to initiate the Phase III study. With this financing, Alto maintains a strong cash position projected to sustain operations into 2028. The acquisition of dopamine agonist combination product candidates, including ALTO-207, further strengthens the company’s pipeline, addressing a significant unmet need in the treatment-resistant depression market. These strategic moves underpin Minter’s confidence in the company’s growth potential, justifying the Buy rating.
Minter covers the Healthcare sector, focusing on stocks such as Ionis Pharmaceuticals, Argenx Se, and Dianthus Therapeutics. According to TipRanks, Minter has an average return of 30.1% and a 61.69% success rate on recommended stocks.
In another report released today, Robert W. Baird also maintained a Buy rating on the stock with a $16.00 price target.