Alto Neuroscience, Inc., the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Patrick Trucchio from H.C. Wainwright reiterated a Buy rating on the stock and has a $50.00 price target.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Patrick Trucchio’s rating is based on several strategic developments at Alto Neuroscience, Inc. The company has made significant progress with its ALTO-207 program for treatment-resistant depression (TRD), securing a $50 million private placement financing and aligning with regulatory pathways following a productive meeting with the FDA. This positions ALTO-207 for a Phase 3 trial by early 2027, enhancing its potential market impact and contributing to a substantial increase in the price target.
Additionally, the FDA’s Fast Track designation for ALTO-101, aimed at treating cognitive impairment associated with schizophrenia, underscores the company’s innovative precision-psychiatry approach. This regulatory validation, combined with promising trial data, strengthens the development pathway for ALTO-101. These advancements in Alto’s pipeline are seen as pivotal, reinforcing the company’s leadership in precision psychiatry and justifying the Buy rating with an increased price target.