FY2024 EPS Forecast for Alto Neuroscience Reduced by Analyst

Alto Neuroscience, Inc. (NYSE:ANRO) – Equities researchers at Wedbush dropped their FY2024 earnings estimates for Alto Neuroscience in a note issued to investors on Wednesday, November 13th. Wedbush analyst L. Chico now anticipates that the company will post earnings of ($2.60) per share for the year, down from their previous forecast of ($2.58). Wedbush currently has a “Neutral” rating and a $4.00 target price on the stock. The consensus estimate for Alto Neuroscience’s current full-year earnings is ($2.63) per share. Wedbush also issued estimates for Alto Neuroscience’s Q4 2024 earnings at ($0.66) EPS, FY2026 earnings at ($2.25) EPS and FY2027 earnings at ($2.32) EPS.

A number of other equities analysts also recently issued reports on the company. Stifel Nicolaus decreased their price objective on Alto Neuroscience from $32.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday. Robert W. Baird dropped their price objective on shares of Alto Neuroscience from $32.00 to $10.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. RODMAN&RENSHAW downgraded shares of Alto Neuroscience from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. William Blair reissued an “outperform” rating on shares of Alto Neuroscience in a research report on Tuesday, September 10th. Finally, Rodman & Renshaw lowered Alto Neuroscience from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Alto Neuroscience has an average rating of “Moderate Buy” and an average price target of $20.00.

Alto Neuroscience Stock Down 1.7 %

Shares of NYSE:ANRO opened at $4.52 on Friday. The company has a quick ratio of 19.85, a current ratio of 13.10 and a debt-to-equity ratio of 0.05. The company has a 50-day moving average price of $9.86 and a 200-day moving average price of $11.41. Alto Neuroscience has a 12 month low of $3.61 and a 12 month high of $24.00.

Alto Neuroscience (NYSE:ANRO) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.62) earnings per share for the quarter, topping the consensus estimate of ($0.67) by $0.05.

Institutional Trading of Alto Neuroscience

Large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its position in Alto Neuroscience by 619.2% during the third 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 bought a new position in Alto Neuroscience during the 2nd quarter valued at about $113,000. Jane Street Group LLC purchased a new stake in Alto Neuroscience in the 3rd quarter worth about $124,000. Federated Hermes Inc. boosted its position in shares of Alto Neuroscience by 33.3% during the second quarter. Federated Hermes Inc. now owns 12,000 shares of the company’s stock valued at $128,000 after buying an additional 3,000 shares during the period. Finally, MetLife Investment Management LLC bought a new position in shares of Alto Neuroscience during the third quarter valued at approximately $146,000.

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.