William Blair analyst Myles Minter has maintained their bullish stance on ANRO stock, giving a Buy rating yesterday.
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Myles Minter has given his Buy rating due to a combination of factors that highlight Alto Neuroscience’s strategic positioning and potential for future success. The recent acquisition of dopamine agonist combinations from Chase Therapeutics is a significant move, as it adds a promising clinical asset, ALTO-207, to Alto’s portfolio without affecting its cash runway, which is projected to support operations into 2028. This acquisition enhances Alto’s pipeline with the planned initiation of a Phase IIb study for ALTO-207 in treatment-resistant depression, which could yield pivotal data by 2027.
Minter is optimistic about the potential of ALTO-207, a combination of pramipexole and ondansetron, to overcome previous tolerability issues seen in studies with pramipexole alone. The combination therapy aims to improve the drug’s profile and leverage a faster regulatory pathway, which could expedite its market entry. The promising results from Chase’s study, where the combination was well tolerated and showed significant efficacy, further support the potential success of ALTO-207, reinforcing Minter’s positive outlook and Buy rating for Alto Neuroscience.
According to TipRanks, Minter is a 4-star analyst with an average return of 5.4% and a 44.28% success rate. Minter covers the Healthcare sector, focusing on stocks such as Axsome Therapeutics, Arcturus Therapeutics, and Biogen.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $10.00 price target.