Last Updated: 10 Nov 2024
Executive Summary
Alto Neuroscience, Inc. (ANRO) is a clinical-stage biopharmaceutical company focused on developing novel treatments for mental health disorders. With a market capitalization of $367.18 million, ANRO has a strong pipeline of drug candidates targeting depression and other psychiatric conditions. The company's latest stock price of $4.29 represents a significant discount to its analyst target price of $31.50.
Company Overview
ANRO was founded in 2013 and is headquartered in Los Altos, California. The company's mission is to develop and commercialize innovative therapies that address the unmet medical needs of patients with mental health disorders. ANRO's lead drug candidate, AL-101, is currently in Phase II clinical trials for the treatment of major depressive disorder (MDD).
Fundamental Analysis
ANRO's financial performance has been mixed in recent years. The company reported a net loss of $53.82 million in the fiscal year ended September 2023. Revenue was negligible, as the company is still in the early stages of development. ANRO has a book value of $6.67 per share and a trailing price-to-book ratio of 2.042.
Technical Analysis
ANRO's stock price has been trading within a range of $3.61 to $24 over the past 52 weeks. The stock currently trades below its 50-day and 200-day moving averages, indicating a bearish trend. However, the recent uptrend in the stock price suggests that a reversal may be underway.
Short Term Outlook
In the short term, ANRO's stock price is likely to be driven by the results of the Phase II clinical trials for AL-101. Positive results could lead to a significant increase in the stock price, while negative results could result in a sell-off.
Long Term Outlook
ANRO has a promising pipeline of drug candidates targeting a large and growing market. If the company can successfully develop and commercialize these drugs, it has the potential to become a major player in the mental health space. However, the company faces significant competition from other biopharmaceutical companies, and there is no guarantee that its drugs will be successful.
Analyst Recommendations
Analysts are generally bullish on ANRO's long-term prospects. Five analysts have issued strong buy ratings, while one has issued a buy rating. The average analyst target price is $31.50, representing a significant potential upside from the current stock price.
