Alector, Inc. (NASDAQ:ALEC) Receives $19.88 Consensus PT from Brokerages

Alector, Inc. (NASDAQ:ALECGet Rating) has earned a consensus recommendation of “Hold” from the nine brokerages that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $19.88.

Several equities research analysts have recently commented on ALEC shares. TheStreet upgraded Alector from a “d” rating to a “c-” rating in a report on Friday, August 5th. Morgan Stanley downgraded Alector from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $27.00 to $13.00 in a report on Friday, September 9th. The Goldman Sachs Group cut their target price on Alector from $9.00 to $6.00 and set a “sell” rating on the stock in a research report on Tuesday, May 24th. Mizuho started coverage on Alector in a research report on Wednesday, July 6th. They set a “buy” rating and a $15.00 target price on the stock. Finally, Citigroup cut their target price on Alector from $34.00 to $19.00 and set a “buy” rating on the stock in a research report on Monday, July 11th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ALEC. State Street Corp boosted its position in Alector by 25.2% in the first quarter. State Street Corp now owns 3,836,093 shares of the company’s stock worth $54,664,000 after purchasing an additional 772,398 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Alector by 245.8% during the 4th quarter. Marshall Wace LLP now owns 1,080,854 shares of the company’s stock valued at $22,320,000 after buying an additional 768,293 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of Alector by 12.3% during the 1st quarter. Federated Hermes Inc. now owns 5,931,034 shares of the company’s stock valued at $84,517,000 after buying an additional 650,187 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Alector by 158.1% during the 1st quarter. Renaissance Technologies LLC now owns 705,780 shares of the company’s stock valued at $10,057,000 after buying an additional 432,300 shares during the last quarter. Finally, DAFNA Capital Management LLC lifted its position in shares of Alector by 88.7% during the 2nd quarter. DAFNA Capital Management LLC now owns 552,438 shares of the company’s stock valued at $5,613,000 after buying an additional 259,691 shares during the last quarter. Hedge funds and other institutional investors own 63.56% of the company’s stock.

Alector Stock Performance

Shares of ALEC stock opened at $9.23 on Friday. The company has a market cap of $769.11 million, a P/E ratio of 23.67 and a beta of 1.05. The stock has a 50 day simple moving average of $11.11 and a two-hundred day simple moving average of $11.10. Alector has a fifty-two week low of $7.50 and a fifty-two week high of $27.05.

Alector (NASDAQ:ALECGet Rating) last issued its earnings results on Thursday, August 4th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.51. The business had revenue of $79.85 million during the quarter, compared to the consensus estimate of $48.68 million. Alector had a return on equity of 12.16% and a net margin of 12.06%. On average, research analysts predict that Alector will post -1.41 earnings per share for the current year.

About Alector

(Get Rating)

Alector, Inc, a clinical stage biopharmaceutical company, develops therapies for the treatment of neurodegeneration diseases. Its products include AL001, a humanized recombinant monoclonal antibody, 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.

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Analyst Recommendations for Alector (NASDAQ:ALEC)

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