Justin Walsh, an analyst from JonesTrading, reiterated the Buy rating on Alto Neuroscience, Inc. (ANRO – Research Report). The associated price target remains the same with $18.00.
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Justin Walsh has given his Buy rating due to a combination of factors surrounding Alto Neuroscience, Inc.’s recent strategic moves and promising developments. The company has expanded its pipeline by acquiring two dopamine agonist drug combination assets, which are aimed at improving treatment for patients with treatment-resistant depression and Parkinson’s disease. Although the immediate impact on stock movement may be limited, the potential for these assets is significant, with a Phase IIb trial expected to commence in mid-2026 and topline data anticipated in 2027.
Furthermore, the combination therapies have shown promising results in early trials, demonstrating improved tolerability and effectiveness. The deployment of Alto’s patient-selection approach using dopamine-related biomarkers adds to the potential success of these treatments. With operations funded into 2028 and a robust cash position, Alto Neuroscience is well-positioned to advance its pipeline, justifying the Buy rating and a price target of $18.
Walsh covers the Healthcare sector, focusing on stocks such as Achieve Life Sciences, Perspective Therapeutics, and Actinium Pharmaceuticals. According to TipRanks, Walsh has an average return of -2.4% and a 32.24% success rate on recommended stocks.