Analyst Justin Walsh of JonesTrading reiterated a Buy rating on Alto Neuroscience, Inc. (ANRO – Research Report), retaining the price target of $18.00.
Justin Walsh has given his Buy rating due to a combination of factors related to Alto Neuroscience, Inc.’s promising pipeline and upcoming data readouts. The company has announced its financial results for 4Q24 and FY24, which, along with discussions with management, suggest that the market is undervaluing the potential of ANRO’s pipeline assets. The anticipated data readouts from several trials, including the ALTO-203 in major depressive disorder (MDD) expected in 2Q25, and the ALTO-101 in schizophrenia expected in the second half of 2025, are expected to provide significant insights into the clinical benefits of these drugs.
Furthermore, the ALTO-300 trial in MDD, with data expected in mid-2026, could validate the company’s EEG-based biomarker patient selection strategies. These developments are expected to reverse the negative trend in the company’s share price. The company’s strategic focus on data-informed biomarkers and the steady progress in their clinical trials underpin the confidence in the potential success of their drug candidates, justifying the Buy rating and the price target of $18.
Walsh covers the Healthcare sector, focusing on stocks such as Achieve Life Sciences, Perspective Therapeutics, and Lantheus. According to TipRanks, Walsh has an average return of -2.8% and a 28.77% success rate on recommended stocks.