Stifel Nicolaus Issues Pessimistic Forecast for Alto Neuroscience (NYSE:ANRO) Stock Price

Alto Neuroscience (NYSE:ANRO) had its price objective dropped by research analysts at Stifel Nicolaus from $32.00 to $10.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 111.86% from the company’s current price.

Several other equities analysts have also weighed in on ANRO. Rodman & Renshaw lowered shares of Alto Neuroscience from a “buy” rating to a “neutral” rating in a report on Wednesday, October 23rd. William Blair reaffirmed an “outperform” rating on shares of Alto Neuroscience in a research report on Tuesday, September 10th. RODMAN&RENSHAW cut shares of Alto Neuroscience from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Robert W. Baird reduced their target price on shares of Alto Neuroscience from $32.00 to $10.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Finally, Wedbush cut shares of Alto Neuroscience from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $29.00 to $4.00 in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Alto Neuroscience Trading Up 4.9 %

Shares of NYSE:ANRO traded up $0.22 during trading on Wednesday, reaching $4.72. The stock had a trading volume of 174,474 shares, compared to its average volume of 372,575. The firm’s 50-day simple moving average is $10.37 and its 200 day simple moving average is $11.57. The company has a quick ratio of 19.85, a current ratio of 19.85 and a debt-to-equity ratio of 0.04. Alto Neuroscience has a one year low of $3.61 and a one year high of $24.00.

Alto Neuroscience (NYSE:ANRO) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.62) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.05. As a group, equities research analysts expect that Alto Neuroscience will post -2.63 EPS for the current year.

Institutional Investors Weigh In On Alto Neuroscience

Several institutional investors have recently bought and sold shares of ANRO. RA Capital Management L.P. acquired a new position in shares of Alto Neuroscience in the 1st quarter valued at about $21,267,000. Jennison Associates LLC boosted its position in shares of Alto Neuroscience by 80.3% in the third quarter. Jennison Associates LLC now owns 832,290 shares of the company’s stock valued at $9,521,000 after acquiring an additional 370,612 shares during the period. Price T Rowe Associates Inc. MD bought a new stake in shares of Alto Neuroscience in the first quarter valued at approximately $9,788,000. Vanguard Group Inc. bought a new stake in shares of Alto Neuroscience in the first quarter valued at approximately $8,233,000. Finally, Artal Group S.A. bought a new stake in shares of Alto Neuroscience in the first quarter valued at approximately $5,372,000.

Alto Neuroscience Company Profile

Alto Neuroscience, Inc operates as a clinical-stage biopharmaceutical company in the United States. Its product pipeline comprising ALTO-100, which is in phase 2b clinical trial for the treatment of patients with major depressive disorder (MDD); and which is in phase 2a clinical trial for the treatment of post-traumatic stress disorder.