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

Alto Neuroscience (NYSE:ANRO) had its price objective reduced by investment analysts at Stifel Nicolaus from $32.00 to $10.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 116.92% from the company’s previous close.

A number of other equities research analysts have also recently commented on the company. RODMAN&RENSHAW cut Alto Neuroscience from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Rodman & Renshaw cut 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 report on Tuesday, September 10th. Wedbush lowered shares of Alto Neuroscience from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $29.00 to $4.00 in a research report on Wednesday, October 23rd. Finally, Robert W. Baird cut 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. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Alto Neuroscience Price Performance

NYSE ANRO opened at $4.61 on Wednesday. The company has a current ratio of 19.85, a quick ratio of 19.85 and a debt-to-equity ratio of 0.04. The business’s fifty day moving average is $10.02 and its 200 day moving average is $11.46. Alto Neuroscience has a fifty-two week low of $3.61 and a fifty-two week high of $24.00.

Alto Neuroscience (NYSE:ANRO) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.62) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.05. Research analysts forecast that Alto Neuroscience will post -2.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Alto Neuroscience

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets lifted its holdings in shares of Alto Neuroscience by 619.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,315 shares of the company’s stock valued at $49,000 after acquiring an additional 3,715 shares during the last quarter. Rhumbline Advisers purchased a new stake in Alto Neuroscience during the second quarter valued at approximately $113,000. Federated Hermes Inc. lifted its stake in shares of Alto Neuroscience by 33.3% in the 2nd quarter. Federated Hermes Inc. now owns 12,000 shares of the company’s stock valued at $128,000 after purchasing an additional 3,000 shares during the last quarter. MetLife Investment Management LLC purchased a new position in shares of Alto Neuroscience in the 3rd quarter worth approximately $146,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Alto Neuroscience during the 2nd quarter valued at approximately $252,000.

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.