FY2024 EPS Estimates for Alto Neuroscience Cut by Wedbush

Alto Neuroscience, Inc. (NYSE:ANRO) – Research analysts at Wedbush decreased their FY2024 EPS estimates for shares of Alto Neuroscience in a research note issued on Wednesday, November 13th. Wedbush analyst L. Chico now expects that the company will post earnings per share of ($2.60) 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.

Several other brokerages also recently commented on ANRO. William Blair reiterated an “outperform” rating on shares of Alto Neuroscience in a report on Tuesday, September 10th. Rodman & Renshaw lowered Alto Neuroscience from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 23rd. 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 dropped their price objective on Alto Neuroscience from $32.00 to $10.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Finally, Stifel Nicolaus lowered their target price on shares of Alto Neuroscience from $32.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

Alto Neuroscience Price Performance

NYSE:ANRO opened at $4.61 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 19.85 and a quick ratio of 19.85. The firm has a 50-day moving average of $10.02 and a 200-day moving average of $11.46. 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 data on Tuesday, November 12th. The company reported ($0.62) EPS for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.05.

Institutional Trading of Alto Neuroscience

Several large investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. increased its stake 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 purchasing an additional 3,000 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of 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 purchasing an additional 3,715 shares during the last quarter. Rhumbline Advisers purchased a new position in shares of Alto Neuroscience in the 2nd quarter worth $113,000. MetLife Investment Management LLC bought a new position in Alto Neuroscience in the third quarter valued at about $146,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Alto Neuroscience during the 2nd quarter valued at about $252,000.

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.