Alto Neuroscience, Inc., the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Patrick Trucchio from H.C. Wainwright reiterated a Buy rating on the stock and has a $50.00 price target.
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Patrick Trucchio’s rating is based on several strategic developments at Alto Neuroscience, Inc. The company has made significant progress with its ALTO-207 program for treatment-resistant depression (TRD), securing a $50 million private placement financing and aligning with regulatory pathways following a productive meeting with the FDA. This positions ALTO-207 for a Phase 3 trial by early 2027, enhancing its potential market impact and contributing to a substantial increase in the price target.
Additionally, the FDA’s Fast Track designation for ALTO-101, aimed at treating cognitive impairment associated with schizophrenia, underscores the company’s innovative precision-psychiatry approach. This regulatory validation, combined with promising trial data, strengthens the development pathway for ALTO-101. These advancements in Alto’s pipeline are seen as pivotal, reinforcing the company’s leadership in precision psychiatry and justifying the Buy rating with an increased price target.