Promising Future for Alto Neuroscience: Strategic Acquisition and Strong Financial Position Drive Buy Rating

Jefferies analyst Andrew Tsai maintained a Buy rating on Alto Neuroscience, Inc. (ANRO – Research Report) on June 9 and set a price target of $15.00.

Andrew Tsai has given his Buy rating due to a combination of factors that highlight Alto Neuroscience, Inc.’s promising future prospects. One key consideration is the company’s strategic acquisition of a dopamine combo product, ALTO-207, which is expected to provide significant Phase II data by 2027 for treatment-resistant depression, potentially opening up a $1 billion market opportunity. Additionally, Alto Neuroscience’s robust pipeline includes several Phase II datasets expected in 2025-26 for major depressive disorder and CIAS schizophrenia, each representing billion-dollar indications.
Another factor contributing to the Buy rating is the company’s strong financial position, with a cash reserve of $161 million, providing a runway until 2028. This financial stability allows the company to continue its research and development efforts without immediate financial pressure. Furthermore, the company’s innovative approach in precision psychiatry, supported by positive data from earlier studies, suggests a potential for rebuilding investor confidence. These elements combined make Alto Neuroscience an attractive investment opportunity according to Andrew Tsai.

In another report released on June 6, JonesTrading also reiterated a Buy rating on the stock with a $18.00 price target.

ANRO’s price has also changed moderately for the past six months – from $3.700 to $2.540, which is a -31.35% drop .