BTIG analyst Thomas Shrader initiated coverage of Alto Neuroscience (ANRO) with a Buy rating and $27 price target The company is focused on next-generation drugs in psychiatry, including major depressive disorder and treatment-resistant depression, the analyst tells investors in a research note. The firm says each of Alto’s programs is supported by “innovative” biomarkers to define subgroups of patients most likely to respond to the specific mechanism of the drug. It sees “several near-term validating” data readouts for the company.
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