Alto Neuroscience, Inc. (NYSE:ANRO) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Alto Neuroscience has a “Moderate Buy” consensus among 11 analysts, with eight buy ratings, two holds and one sell rating. The average 12-month price target is $37.25, above the stock’s reported $30.73 price.
• Several analysts recently raised their price targets, including BTIG Research to $37 and HC Wainwright to $55, while Wedbush maintained a neutral rating with a $26 target.
• Major investors increased their positions during the first quarter, and Alto reported quarterly EPS of negative $0.65, beating the consensus estimate of negative $0.73. Analysts expect a full-year loss of approximately $2.68 per share.

Shares of Alto Neuroscience, Inc. (NYSE:ANRO - Get Free Report) have been given an average recommendation of "Moderate Buy" by the eleven brokerages that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $37.25.

Several equities research analysts recently issued reports on the stock. Wedbush lifted their price target on shares of Alto Neuroscience from $24.00 to $26.00 and gave the company a "neutral" rating in a report on Thursday, August 13th. Weiss Ratings reissued a "sell (d-)" rating on shares of Alto Neuroscience in a research note on Wednesday, July 29th. BTIG Research raised their target price on shares of Alto Neuroscience from $28.00 to $37.00 and gave the company a "buy" rating in a research report on Thursday, August 13th. Zacks Research raised shares of Alto Neuroscience from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 20th. Finally, HC Wainwright upped their price target on shares of Alto Neuroscience from $50.00 to $55.00 and gave the stock a "buy" rating in a report on Monday, August 17th.

Hedge Funds Weigh In On Alto Neuroscience

Several large investors have recently bought and sold shares of the company. Commodore Capital LP boosted its stake in shares of Alto Neuroscience by 49.4% during the first quarter. Commodore Capital LP now owns 2,723,196 shares of the company's stock valued at $61,217,000 after purchasing an additional 900,000 shares in the last quarter. Perceptive Advisors LLC increased its stake in shares of Alto Neuroscience by 12.6% in the first quarter. Perceptive Advisors LLC now owns 2,009,893 shares of the company's stock valued at $45,182,000 after buying an additional 225,500 shares during the period. Spruce Street Capital LP raised its holdings in Alto Neuroscience by 494.7% in the 1st quarter. Spruce Street Capital LP now owns 1,325,210 shares of the company's stock valued at $29,116,000 after buying an additional 1,102,366 shares during the last quarter. Affinity Asset Advisors LLC acquired a new stake in Alto Neuroscience during the 1st quarter worth approximately $11,240,000. Finally, Jennison Associates LLC acquired a new stake in Alto Neuroscience during the 1st quarter worth approximately $8,687,000.

Alto Neuroscience Price Performance

ANRO stock opened at $30.73 on Tuesday. The company's 50-day moving average price is $31.15 and its two-hundred day moving average price is $25.85. The firm has a market cap of $1.21 billion, a P/E ratio of -12.70 and a beta of 1.13. The company has a quick ratio of 14.85, a current ratio of 14.85 and a debt-to-equity ratio of 0.07. Alto Neuroscience has a 12 month low of $3.65 and a 12 month high of $37.48.

Alto Neuroscience (NYSE:ANRO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.65) earnings per share for the quarter, topping analysts' consensus estimates of ($0.73) by $0.08. On average, analysts anticipate that Alto Neuroscience will post -2.68 earnings per share for the current fiscal year.

Alto Neuroscience Company Profile

Alto Neuroscience, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for patients with neuropsychiatric disorders. The company combines clinical data, biological measurements and digital assessments to identify patient characteristics that may help predict treatment response and guide the development of more targeted therapies.

Alto's pipeline has included investigational treatments for conditions such as major depressive disorder and schizophrenia.

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