H.C. Wainwright analyst Patrick Trucchio reiterated a Buy rating on Alto Neuroscience, Inc. today and set a price target of $10.00.
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Patrick Trucchio has given his Buy rating due to a combination of factors, primarily focusing on Alto Neuroscience’s innovative approach in precision psychiatry. The company utilizes advanced methods such as electroencephalography (EEG), cognitive testing, and wearables to enhance trial populations and measure target engagement, which aims to reduce placebo effects and improve trial outcomes.
Additionally, the company’s financial health is robust, with a cash position expected to sustain operations until 2028, covering at least four significant clinical readouts. The promising development of ALTO-207 for treatment-resistant depression, leveraging predefined biomarkers, and the upcoming ALTO-101 readout for cognitive impairment associated with schizophrenia, further support the Buy rating. These strategic initiatives position Alto Neuroscience for potential breakthroughs in psychiatric treatments, justifying the positive outlook and $10 price target.
According to TipRanks, Trucchio is a 5-star analyst with an average return of 13.6% and a 47.23% success rate. Trucchio covers the Healthcare sector, focusing on stocks such as GH Research, Arrowhead Pharmaceuticals, and COMPASS Pathways.