Wolfe Research initiated coverage on Alto Neuroscience (NYSE:ANRO) with an outperform rating and a price target of $35. The stock currently trades at $21.54.
Analyst targets range from $24 to $50. The firm highlighted ALTO-207, a fixed-dose combination of pramipexole and ondansetron, as the top asset.
This combination model has been validated by successful products like Auvelity and Cobenfy. Phase 2b data is expected in the second half of 2027.
Despite a 635% return over the past year, analysts do not expect profitability this year. The company holds more cash than debt.
Alto Neuroscience develops treatments for depression. Recent news includes promising Phase 2a data for ALTO-207 and initiation of Phase 2b trial.
BofA Securities and H.C. Wainwright have also issued positive ratings.
