JonesResearch initiated coverage of Alto Neuroscience (ANRO) with a Buy rating and $18 price target Alto is a biopharmaceutical company developing therapies for the treatment of central nervous system diseases, leveraging its biomarker platform for improved patient identification and selection, the analyst tells investors in a research note. The firm says that while the Phase IIb results for ALTO-100 reported in October were disappointing, the market reaction was overdone as the results as an indictment of the company’s broader approach.
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