William Blair analyst Myles Minter has reiterated their bullish stance on ANRO stock, giving a Buy rating today.
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Myles Minter has given his Buy rating due to a combination of factors that highlight the promising future of Alto Neuroscience, Inc. The company’s stock has surged over 200% year-to-date, driven by a $50 million PIPE financing aimed at accelerating the development of ALTO-207. This asset, acquired recently, shows promising clinical trial data in treatment-resistant depression, particularly with its potential leading effects on anhedonia, a common symptom of depression.
Additionally, the company’s strong cash position and diversified asset pipeline, which includes multiple clinical readouts planned through 2026, increase the likelihood of clinical success and potential for significant stock price appreciation. The acceleration of ALTO-207 to Phase III trials and the strategic management of other programs like ALTO-100 and ALTO-101 further reinforce the positive outlook. These elements collectively underpin Minter’s confidence in the company’s potential, justifying the Buy rating.
In another report released today, Jefferies also maintained a Buy rating on the stock with a $25.00 price target.