H.C. Wainwright analyst Patrick Trucchio reiterated a Buy rating on Alto Neuroscience, Inc. (ANRO – Research Report) today and set a price target of $10.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Patrick Trucchio has given his Buy rating due to a combination of factors surrounding Alto Neuroscience, Inc.’s strategic acquisition and promising clinical developments. The acquisition of ALTO-207, a fixed-dose combination of pramipexole and ondansetron, is seen as a strategic fit that enhances Alto’s clinical pipeline and complements its biomarker-driven platform. This asset is particularly significant as it addresses treatment-resistant depression (TRD), a high unmet-need area in psychiatry, and maintains the company’s cash runway to 2028.
ALTO-207’s novel approach allows for faster titration and higher dose achievement, which has been demonstrated in a Phase 2a trial to produce significant antidepressant effects with good tolerability. The upcoming Phase 2b trial will further leverage Alto’s precision psychiatry platform, incorporating biomarker-enrichment strategies. Additionally, the acquisition deal is structured to be capital-efficient, preserving Alto’s financial flexibility. These factors, combined with a risk-adjusted valuation approach, underpin the Buy rating and the $10 price target for ANRO.
According to TipRanks, Trucchio is a 2-star analyst with an average return of 0.5% and a 38.76% success rate. Trucchio covers the Healthcare sector, focusing on stocks such as uniQure, Alnylam Pharma, and Precision BioSciences.