Gold bars to be exempt from tariffs, White House clarifies
Investing.com - H.C. Wainwright maintained its buy rating and $10.00 price target on Alto Neuroscience (NYSE:ANRO), currently trading at $2.30, following the company’s announcement of top-line data from a Phase 2 trial. The stock has declined nearly 47% over the past six months, though analysts maintain a strong buy consensus with targets ranging from $4 to $18.
The trial evaluated ALTO-203, a novel non-stimulant histamine H3 inverse agonist being developed for patients with major depressive disorder who have elevated levels of anhedonia. Alto Neuroscience announced these results on Wednesday. According to InvestingPro, the company maintains a strong liquidity position with more cash than debt and a current ratio of 22.5, though it’s currently burning through cash reserves.
The company identified an EEG-based biomarker that predicts patient response to ALTO-203 treatment, confirming findings from a previous Phase 1 trial conducted with healthy volunteers. This Phase 2 trial marked the first clinical evaluation of ALTO-203 in actual patients.
ALTO-203 could potentially become a pioneering treatment in a symptom domain that has proven resistant to standard antidepressants and represents a significant unmet medical need, according to H.C. Wainwright.
Alto Neuroscience plans to report additional results from this study at a future medical meeting and will determine the next development steps for ALTO-203 after completing a full analysis of the dataset.
In other recent news, Alto Neuroscience announced the acquisition of ALTO-207, a fixed-dose combination of pramipexole and ondansetron from Chase Therapeutics Corporation, aimed at treating treatment-resistant depression (TRD). The acquisition is considered a strategic move to enhance Alto’s biomarker-driven platform and clinical pipeline, with plans to initiate a Phase 2b trial by mid-2026. ALTO-207 has shown promising results in Phase 2a trials, meeting primary and secondary endpoints and demonstrating significant improvement in depression symptoms. Additionally, the company identified a biomarker in its Phase 2 trial of ALTO-203 for major depressive disorder, which showed effects on attention and wakefulness, though results were mixed regarding depression-related endpoints.
Analysts at William Blair and Stifel maintained their positive ratings on Alto Neuroscience stock, despite the mixed trial results for ALTO-203. William Blair reiterated its outperform rating, while Stifel held its Buy rating with a $10 price target. Both firms noted improvements in sustained attention and wakefulness, particularly in patients with specific EEG biomarkers. H.C. Wainwright also reaffirmed its Buy rating, emphasizing confidence in Alto’s strategic direction and the potential impact of ALTO-207 on the company’s growth. Alto’s current cash reserves are expected to support operations through 2028, including several planned clinical study readouts.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.