Alto Neuroscience (NYSE:ANRO) Earns Outperform Rating from Analysts at Wedbush

Wedbush began coverage on shares of Alto Neuroscience (NYSE:ANRO) in a report released on Tuesday, MarketBeat reports. The brokerage issued an outperform rating and a $29.00 price target on the stock. Wedbush also issued estimates for Alto Neuroscience’s Q3 2024 earnings at ($0.61) EPS, Q4 2024 earnings at ($0.65) EPS, FY2024 earnings at ($2.58) EPS, Q1 2025 earnings at ($0.53) EPS, Q2 2025 earnings at ($0.55) EPS, Q3 2025 earnings at ($0.56) EPS, Q4 2025 earnings at ($0.57) EPS, FY2025 earnings at ($2.21) EPS, FY2026 earnings at ($2.02) EPS, FY2027 earnings at ($2.26) EPS and FY2028 earnings at ($2.56) EPS.

A number of other analysts have also weighed in on the stock. William Blair reissued an outperform rating on shares of Alto Neuroscience in a research report on Wednesday, June 12th. Rodman & Renshaw started coverage on Alto Neuroscience in a report on Friday, June 21st. They issued a buy rating and a $43.00 price target on the stock. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of Buy and a consensus target price of $33.80.

Alto Neuroscience Stock Performance

Shares of Alto Neuroscience stock opened at $12.72 on Tuesday. The stock has a 50 day moving average price of $11.94 and a 200-day moving average price of $13.06. Alto Neuroscience has a one year low of $7.91 and a one year high of $24.00. The company has a current ratio of 19.85, a quick ratio of 19.85 and a debt-to-equity ratio of 0.04.

Alto Neuroscience (NYSE:ANRO) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.60) EPS for the quarter, topping the consensus estimate of ($0.67) by $0.07. Equities analysts forecast that Alto Neuroscience will post -2.64 EPS for the current year.

Insiders Place Their Bets

In other news, insider Adam Savitz bought 12,069 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was acquired at an average cost of $12.60 per share, with a total value of $152,069.40. Following the transaction, the insider now directly owns 36,920 shares in the company, valued at approximately $465,192. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Investors Weigh In On Alto Neuroscience

Large investors have recently modified their holdings of the business. Vanguard Group Inc. bought a new position in shares of Alto Neuroscience during the first quarter valued at approximately $8,233,000. Price T Rowe Associates Inc. MD bought a new stake in Alto Neuroscience during the 1st quarter valued at $9,788,000. Jennison Associates LLC purchased a new position in shares of Alto Neuroscience in the 1st quarter valued at $7,039,000. Zimmer Partners LP bought a new position in shares of Alto Neuroscience in the 1st quarter worth $1,151,000. Finally, Rhumbline Advisers purchased a new stake in shares of Alto Neuroscience during the 2nd quarter worth $113,000.

Alto Neuroscience Company Profile

Alto Neuroscience, Inc operates as a clinical-stage biopharmaceutical company in the United States. Its product pipeline comprising ALTO-100, which is in phase 2b clinical trial for the treatment of patients with major depressive disorder (MDD); and which is in phase 2a clinical trial for the treatment of post-traumatic stress disorder.