Patrick Trucchio, an analyst from H.C. Wainwright, reiterated the Buy rating on Alto Neuroscience, Inc.. The associated price target remains the same with $10.00.
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Patrick Trucchio has given his Buy rating due to a combination of factors including the strategic addition of ALTO-207 to Alto Neuroscience’s pipeline, which enhances the company’s late-stage assets for treatment-resistant depression (TRD). The acquisition of ALTO-207, a promising combination therapy, underscores Alto’s commitment to advancing its portfolio with innovative treatments that have shown significant efficacy in early trials.
Furthermore, Alto’s strong cash position, projected to sustain operations through 2028, along with a series of upcoming clinical milestones, provides a solid foundation for future growth. The company’s disciplined execution and potential for multiple value-creating catalysts, such as the anticipated data from ALTO-101 and other key programs, reinforce the positive outlook and justify the Buy rating with a $10 price target.