Alto Neuroscience (NYSE:ANRO) Announces Quarterly Earnings Results, Beats Estimates By $0.05 EPS

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

Alto Neuroscience Stock Performance

Shares of NYSE ANRO traded up $0.33 during midday trading on Wednesday, reaching $4.83. 328,591 shares of the stock were exchanged, compared to its average volume of 373,357. Alto Neuroscience has a twelve month low of $3.61 and a twelve month high of $24.00. The firm has a 50-day simple moving average of $10.20 and a two-hundred day simple moving average of $11.50. The company has a debt-to-equity ratio of 0.04, a current ratio of 19.85 and a quick ratio of 19.85.

Wall Street Analyst Weigh In

ANRO has been the topic of several research reports. Wedbush downgraded shares of Alto Neuroscience from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $29.00 to $4.00 in a report on Wednesday, October 23rd. Rodman & Renshaw downgraded shares of Alto Neuroscience from a “buy” rating to a “neutral” rating in a report on Wednesday, October 23rd. William Blair reiterated an “outperform” rating on shares of Alto Neuroscience in a report on Tuesday, September 10th. Robert W. Baird cut their price target on shares of Alto Neuroscience from $32.00 to $10.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Finally, RODMAN&RENSHAW cut shares of Alto Neuroscience from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.00.

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.