Wedbush Forecasts Strong Price Appreciation for Alto Neuroscience (NYSE:ANRO) Stock

Key Points

• Wedbush raised Alto Neuroscience’s price target to $26 from $24 but maintained a “neutral” rating, implying 10.71% downside from the prior close.
• Analyst sentiment is broadly positive, with eight Buy ratings, one Hold and two Sell ratings; the consensus rating is “Moderate Buy” with an average target of $36.62.
• Alto reported a quarterly loss of $0.65 per share, beating the $0.73 consensus estimate, while hedge funds including Perceptive Advisors and Vestal Point Capital significantly increased their positions.

Alto Neuroscience (NYSE:ANRO - Get Free Report) had its price objective increased by equities research analysts at Wedbush from $24.00 to $26.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Wedbush's price target would indicate a potential downside of 10.71% from the company's previous close.

Other equities analysts have also recently issued research reports about the company. BTIG Research upped their target price on Alto Neuroscience from $28.00 to $37.00 and gave the stock a "buy" rating in a report on Thursday. Chardan Capital reissued a "buy" rating and set a $30.00 price target on shares of Alto Neuroscience in a research note on Wednesday, April 22nd. Wolfe Research assumed coverage on Alto Neuroscience in a report on Friday, May 22nd. They set an "outperform" rating on the stock. Zacks Research downgraded Alto Neuroscience from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 22nd. Finally, Bank of America started coverage on shares of Alto Neuroscience in a research report on Tuesday, May 5th. They set a "buy" rating and a $35.00 target price on the stock. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $36.62.

Alto Neuroscience Price Performance

Shares of NYSE:ANRO opened at $29.12 on Thursday. Alto Neuroscience has a one year low of $3.02 and a one year high of $29.70. The company has a debt-to-equity ratio of 0.07, a current ratio of 20.52 and a quick ratio of 20.52. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -12.03 and a beta of 1.06. The firm has a 50 day simple moving average of $25.44 and a 200 day simple moving average of $22.57.

Alto Neuroscience (NYSE:ANRO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.65) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.73) by $0.08. Research analysts predict that Alto Neuroscience will post -3.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alto Neuroscience

A number of hedge funds have recently made changes to their positions in ANRO. Commodore Capital LP bought a new position in Alto Neuroscience during the 4th quarter worth approximately $32,453,000. Perceptive Advisors LLC boosted its stake in shares of Alto Neuroscience by 1,048.5% in the 4th quarter. Perceptive Advisors LLC now owns 1,784,393 shares of the company's stock valued at $31,762,000 after purchasing an additional 1,629,027 shares during the last quarter. Vestal Point Capital LP increased its position in shares of Alto Neuroscience by 161.6% during 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. Spruce Street Capital LP increased its position in shares of Alto Neuroscience by 494.7% during the first quarter. Spruce Street Capital LP now owns 1,325,210 shares of the company's stock worth $29,116,000 after buying an additional 1,102,366 shares during the period. Finally, Vivo Capital LLC bought a new position in Alto Neuroscience during the fourth quarter worth $18,433,000.

Alto Neuroscience Company Profile

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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