TD Cowen analyst Ritu Baral has maintained their bullish stance on ANRO stock, giving a Buy rating today.
Ritu Baral has given his Buy rating due to a combination of factors including Alto Neuroscience, Inc.’s promising clinical trial results and strong financial position. The company is advancing its ALTO-300 study for major depressive disorder (MDD) with encouraging interim results, leading to an expansion of the trial to include more participants. This expansion increases the likelihood of demonstrating a significant clinical benefit, which is a positive indicator for future success.
Additionally, Alto Neuroscience has a solid financial runway, with cash reserves expected to last into 2028, providing stability and support for ongoing research and development activities. The absence of significant safety concerns in the trials further strengthens the company’s position. These elements combined suggest a favorable outlook for the company’s stock, justifying the Buy rating.