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Investing.com - H.C. Wainwright reiterated its Buy rating and $10.00 price target on Alto Neuroscience (NYSE:ANRO), currently trading at $3.89 with a market capitalization of $105 million, following a meeting with the company’s management at the firm’s 27th Annual Global Investment Conference. According to InvestingPro data, analyst consensus remains strongly bullish, with price targets ranging from $4 to $15.
The research firm highlighted Alto’s precision psychiatry approach, which utilizes electroencephalography (EEG), cognitive testing, and wearables to enrich trial populations and measure target engagement in its clinical studies.
H.C. Wainwright analyst Patrick Trucchio noted that this framework aims to address high placebo response rates and improve trial efficiency in psychiatric drug development.
During the September 9 conference, Alto Neuroscience’s Chief Executive Officer Amit Etkin emphasized the company’s biomarker-led strategy, with ALTO-101 readout upcoming and ALTO-207 positioned for broad treatment-resistant depression with predefined markers.
Alto management reiterated that its current cash position is expected to fund operations into 2028, providing runway through at least four key clinical readouts.
In other recent news, Alto Neuroscience announced its plans to advance its depression drug, ALTO-207, into a Phase 2b trial by mid-2026. This decision follows the publication of promising study results in The Lancet Psychiatry, which highlighted the drug’s potential benefits for treatment-resistant depression. Additionally, H.C. Wainwright has reiterated its buy rating for Alto Neuroscience, maintaining a $10.00 price target after the company shared top-line data from a Phase 2 trial of ALTO-203. William Blair also maintained its outperform rating on the company’s stock, despite mixed results from the same trial, noting ALTO-203’s potential benefits in promoting wakefulness and improving sustained attention.
In corporate governance news, Alto Neuroscience appointed Raymond Sanchez, M.D., to its Board of Directors, effective August 12, 2025. Dr. Sanchez brings experience from his previous role as Chief Medical Officer at Cerevel Therapeutics Holdings. Furthermore, Alto Neuroscience’s Board of Directors approved a repricing of certain employee and consultant stock options to $2.35 per share, impacting options granted under the company’s 2019 and 2024 Equity Incentive Plans. This adjustment covers over 4.2 million shares, although options held by non-employee directors were excluded from this repricing.
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