TD Cowen analyst Ritu Baral has maintained their bullish stance on ANRO stock, giving a Buy rating on March 22.
Ritu Baral has given his Buy rating due to a combination of factors surrounding Alto Neuroscience, Inc.’s promising pipeline and financial position. The ongoing Phase 2b trial of ALTO-100 for Major Depressive Disorder (MDD) with poor cognition is noted for its innovative approach using a verbal memory-based biomarker. This method has been previously established and replicated, which may increase the trial’s chance of success. Furthermore, the company is initiating two additional Phase 2 Proof of Concept trials which could further validate the company’s therapeutic strategies and expand its potential market.
The financial stability of Alto Neuroscience, Inc. also supports the Buy rating, with a pro forma cash balance that is expected to fund operations into 2027. This cash runway, derived from a recent IPO, allows the company to pursue its clinical programs without the immediate need for additional financing, which reduces risk for investors. Baral’s confidence in the company’s financial health, coupled with the anticipation of topline data from multiple trials in the near future, lays the groundwork for a positive outlook on the stock’s performance.
Baral covers the Healthcare sector, focusing on stocks such as Neurogene, Alnylam Pharma, and Insmed. According to TipRanks, Baral has an average return of 8.4% and a 45.12% success rate on recommended stocks.
In another report released on March 22, Robert W. Baird also maintained a Buy rating on the stock with a $32.00 price target.
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Alto Neuroscience, Inc. (ANRO) Company Description:
Alto Neuroscience is a clinical-stage biopharmaceutical company with a mission to redefine neuropsychiatric care by leveraging neurobiology to develop personalized and highly effective treatment options. Through our AI-enabled biomarker platform, we combine rich sources of information on patients¿ brain activity and behavior to better identify which patients are more likely to respond to our novel product candidates.
