Bank of America Begins Coverage on Alto Neuroscience (NYSE:ANRO)

Key Points

• Bank of America initiated coverage on Alto Neuroscience (NYSE:ANRO) with a Buy rating and a $35.00 price target, implying roughly a 38.6% upside from the current price.
• Alto opened at $25.25 with a market cap of about $806M and a 52‑week range of $2.12–$28.44; it reported Q1 EPS of ($0.45) (beating estimates) and the analyst consensus is a Moderate Buy with an average price target of $35.13.

Investment analysts at Bank of America assumed coverage on shares of Alto Neuroscience (NYSE:ANRO - Get Free Report) in a report released on Tuesday, MarketBeat reports. The brokerage set a "buy" rating and a $35.00 price target on the stock. Bank of America's target price would indicate a potential upside of 38.64% from the company's current price.

Several other equities research analysts have also issued reports on the company. Wall Street Zen lowered Alto Neuroscience from a "hold" rating to a "sell" rating in a research note on Saturday, March 21st. BTIG Research raised their price target on Alto Neuroscience from $27.00 to $28.00 and gave the company a "buy" rating in a research report on Tuesday, February 17th. HC Wainwright restated a "buy" rating and set a $50.00 price target on shares of Alto Neuroscience in a research report on Thursday, April 2nd. Weiss Ratings upgraded Alto Neuroscience from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday. Finally, Wedbush lowered their price target on Alto Neuroscience from $22.00 to $21.00 and set a "neutral" rating on the stock in a research report on Thursday, April 2nd. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $35.13.

Alto Neuroscience Price Performance

NYSE:ANRO opened at $25.25 on Tuesday. The firm has a market capitalization of $806.48 million, a price-to-earnings ratio of -11.58 and a beta of 1.62. Alto Neuroscience has a 52-week low of $2.12 and a 52-week high of $28.44. The stock has a fifty day moving average of $22.40 and a 200 day moving average of $17.61. The company has a debt-to-equity ratio of 0.12, a quick ratio of 15.69 and a current ratio of 15.69.

Alto Neuroscience (NYSE:ANRO - Get Free Report) last posted its quarterly earnings data on Monday, March 16th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.11. On average, research analysts expect that Alto Neuroscience will post -2.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Alto Neuroscience

Large investors have recently added to or reduced their stakes in the company. Commodore Capital LP purchased a new position in shares of Alto Neuroscience in the fourth quarter worth about $32,453,000. Perceptive Advisors LLC increased its holdings in shares of Alto Neuroscience by 1,048.5% in the fourth quarter. Perceptive Advisors LLC now owns 1,784,393 shares of the company's stock worth $31,762,000 after buying an additional 1,629,027 shares during the period. Vestal Point Capital LP increased its holdings in shares of Alto Neuroscience by 161.6% in the fourth quarter. Vestal Point Capital LP now owns 2,485,000 shares of the company's stock worth $44,233,000 after buying an additional 1,535,000 shares during the period. Vivo Capital LLC purchased a new position in shares of Alto Neuroscience in the fourth quarter worth about $18,433,000. Finally, Ikarian Capital LLC increased its holdings in shares of Alto Neuroscience by 368.2% in the fourth quarter. Ikarian Capital LLC now owns 515,000 shares of the company's stock worth $9,167,000 after buying an additional 405,000 shares during the period.

About Alto Neuroscience

Alto Neuroscience NYSE: ANRO is a clinical-stage biotechnology company dedicated to advancing precision medicine in neuropsychiatric disorders. The company leverages an integrated digital clinical neuroscience platform that gathers and analyzes multimodal biomarker data—such as electroencephalography (EEG), cognitive assessments and patient-reported outcomes—to predict individual treatment responses. This approach aims to accelerate drug development and improve therapeutic outcomes for conditions like major depressive disorder and treatment-resistant depression.

Alto's proprietary platform combines data science, machine learning and proprietary algorithms to stratify patient populations and identify responders to investigational therapies.

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