Robert W. Baird Increases Alto Neuroscience (NYSE:ANRO) Price Target to $16.00

Key Points

• Robert W. Baird has raised its price target for Alto Neuroscience (NYSE:ANRO) from $10.00 to $16.00, indicating a potential upside of 47.19% from the current price.
• Alto Neuroscience's stock surged by 78.8% recently, reaching $10.87 after trading volume significantly increased.
• Despite positive ratings from several analysts, the consensus rating for Alto Neuroscience remains a "Hold" with an average target price of $11.00.

Alto Neuroscience (NYSE:ANRO - Get Free Report) had its target price boosted by equities researchers at Robert W. Baird from $10.00 to $16.00 in a research note issued to investors on Monday, MarketBeat.com reports. The brokerage currently has an "outperform" rating on the stock. Robert W. Baird's price objective suggests a potential upside of 47.19% from the company's current price.

ANRO has been the topic of a number of other research reports. Chardan Capital initiated coverage on Alto Neuroscience in a report on Monday, September 29th. They issued a "buy" rating and a $15.00 target price on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Alto Neuroscience in a research note on Wednesday, October 8th. Finally, HC Wainwright restated a "buy" rating and issued a $10.00 target price on shares of Alto Neuroscience in a research note on Monday, August 18th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $11.00.

Alto Neuroscience Stock Up 78.8%

Shares of ANRO traded up $4.79 during mid-day trading on Monday, hitting $10.87. 16,060,634 shares of the company traded hands, compared to its average volume of 637,034. The business has a 50 day moving average of $4.26 and a 200 day moving average of $3.13. The company has a market capitalization of $294.36 million, a PE ratio of -4.62 and a beta of 2.00. Alto Neuroscience has a 1-year low of $1.60 and a 1-year high of $14.85. The company has a quick ratio of 18.43, a current ratio of 18.43 and a debt-to-equity ratio of 0.18.

Alto Neuroscience (NYSE:ANRO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 13th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.08). Equities research analysts anticipate that Alto Neuroscience will post -2.54 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. SCS Capital Management LLC purchased a new stake in shares of Alto Neuroscience during the 1st quarter valued at $144,000. Nuveen LLC purchased a new position in Alto Neuroscience in the 1st quarter worth $302,000. AWM Investment Company Inc. increased its position in shares of Alto Neuroscience by 31.1% in the first quarter. AWM Investment Company Inc. now owns 901,984 shares of the company's stock valued at $1,948,000 after acquiring an additional 214,153 shares during the period. Citizens Financial Group Inc. RI bought a new stake in Alto Neuroscience during the first quarter worth about $83,000. Finally, Armistice Capital LLC lifted its stake in shares of Alto Neuroscience by 146.2% in the first quarter. Armistice Capital LLC now owns 1,600,000 shares of the company's stock worth $3,456,000 after buying an additional 950,000 shares in the last quarter.

About Alto Neuroscience

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.

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