Alector, Inc. (NASDAQ:ALEC) Receives Average Recommendation of “Hold” from Analysts

Shares of Alector, Inc. (NASDAQ:ALEC) have been given a consensus recommendation of “Hold” by the seven research firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $3.50.

A number of research analysts recently commented on ALEC shares. Bank of America downgraded shares of Alector from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $9.00 to $1.00 in a research report on Wednesday, December 4th. HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of Alector in a report on Thursday, February 27th. Mizuho lowered Alector from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $9.00 to $2.50 in a report on Tuesday, December 17th. Morgan Stanley restated an “underweight” rating and issued a $1.50 target price (down previously from $3.00) on shares of Alector in a research note on Friday, March 7th. Finally, Stifel Nicolaus lowered Alector from a “buy” rating to a “hold” rating and set a $4.00 target price on the stock. in a research report on Monday, December 16th.

Alector Stock Down 3.0 %

ALEC opened at $1.29 on Monday. The firm has a market capitalization of $127.82 million, a P/E ratio of -0.76 and a beta of 0.65. The stock has a fifty day moving average of $1.59 and a 200-day moving average of $2.95. Alector has a 12-month low of $1.26 and a 12-month high of $6.78.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Point72 DIFC Ltd acquired a new stake in Alector in the 3rd quarter worth approximately $29,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Alector in the third quarter valued at approximately $40,000. Squarepoint Ops LLC acquired a new stake in shares of Alector in the fourth quarter worth $25,000. Tema Etfs LLC acquired a new position in Alector in the 4th quarter valued at $27,000. Finally, Tower Research Capital LLC TRC grew its stake in Alector by 71.1% in the 4th 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. Institutional investors and hedge funds 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.