Alector, Inc. (NASDAQ:ALEC) Receives $3.75 Average PT from Brokerages

Alector, Inc. (NASDAQ:ALEC) has been assigned an average recommendation of “Hold” from the seven analysts that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $3.50.

ALEC has been the topic of a number of research reports. Stifel Nicolaus downgraded shares of Alector from a “buy” rating to a “hold” rating and set a $4.00 price objective on the stock. in a report on Monday, December 16th. Bank of America downgraded shares of Alector from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $9.00 to $1.00 in a report on Wednesday, December 4th. BTIG Research dropped their price objective on shares of Alector from $16.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Morgan Stanley reaffirmed an “underweight” rating and set a $1.50 price target (down previously from $3.00) on shares of Alector in a report on Friday, March 7th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of Alector in a report on Thursday, February 27th.

Alector Trading Up 7.9 %

ALEC opened at $1.51 on Thursday. The company has a market cap of $149.62 million, a price-to-earnings ratio of -0.89 and a beta of 0.65. The company’s 50 day moving average is $1.71 and its 200 day moving average is $3.29. Alector has a 12-month low of $1.30 and a 12-month high of $6.78.

Alector (NASDAQ:ALEC) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.59. The company had revenue of $54.24 million for the quarter, compared to the consensus estimate of $20.41 million. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. As a group, analysts predict that Alector will post -1.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Alector

Institutional investors and hedge funds have recently modified their holdings of the stock. Squarepoint Ops LLC bought a new stake in shares of Alector during the fourth quarter valued at approximately $25,000. Tema Etfs LLC bought a new stake in shares of Alector during the fourth quarter valued at approximately $27,000. Tower Research Capital LLC TRC raised its position in shares of Alector by 71.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 14,670 shares of the company’s stock valued at $28,000 after buying an additional 6,096 shares during the last quarter. Point72 DIFC Ltd bought a new stake in shares of Alector during the third quarter valued at approximately $29,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Alector during the third quarter valued at approximately $40,000. Institutional investors own 85.83% of the company’s stock.

Alector Company Profile

Alector, Inc, a clinical stage biopharmaceutical company, develops therapies for the treatment of neurodegeneration diseases. Its products include AL001, an immune activity in the brain with genetic links to multiple neurodegenerative disorders, which is in Phase III clinical trial for the treatment of frontotemporal dementia, Alzheimer's, Parkinson's, and amyotrophic lateral sclerosis diseases; and AL101 that is in Phase I clinical trial for the treatment of neurodegenerative diseases, including Alzheimer's and Parkinson's diseases.