Robert W. Baird Lowers Alto Neuroscience (NYSE:ANRO) Price Target to $10.00

Alto Neuroscience (NYSE:ANRO) had its price objective decreased by equities researchers at Robert W. Baird from $32.00 to $10.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 142.13% from the company’s previous close.

Several other equities research analysts have also weighed in on ANRO. Wedbush reaffirmed an “outperform” rating and issued a $29.00 target price on shares of Alto Neuroscience in a research report on Tuesday, September 10th. Rodman & Renshaw lowered shares of Alto Neuroscience from a “buy” rating to a “neutral” rating in a research report on Wednesday. Finally, William Blair reiterated an “outperform” rating on shares of Alto Neuroscience in a research report on Tuesday, September 10th. Three equities research 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 target price of $24.40.

Alto Neuroscience Trading Down 5.3 %

Shares of NYSE:ANRO opened at $4.13 on Wednesday. Alto Neuroscience has a fifty-two week low of $4.04 and a fifty-two week high of $24.00. The firm has a 50-day simple moving average of $12.12 and a 200 day simple moving average of $12.43. 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 (NYSE:ANRO) last posted its earnings results on Tuesday, August 13th. The company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.67) by $0.07. On average, sell-side analysts predict that Alto Neuroscience will post -2.63 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ANRO. University of Texas Texas AM Investment Managment Co. acquired a new stake in Alto Neuroscience in the first quarter worth about $340,000. Jennison Associates LLC acquired a new stake in shares of Alto Neuroscience in the 1st quarter worth approximately $7,039,000. Vanguard Group Inc. acquired a new stake in shares of Alto Neuroscience in the 1st quarter worth approximately $8,233,000. Price T Rowe Associates Inc. MD bought a new position in shares of Alto Neuroscience in the first quarter valued at approximately $9,788,000. Finally, AWM Investment Company Inc. acquired a new position in shares of Alto Neuroscience during the first quarter valued at approximately $4,592,000.

About Alto Neuroscience

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.