Alector, Inc. (NASDAQ:ALEC) Receives Average Rating of “Buy” from Brokerages

Shares of Alector, Inc. (NASDAQ:ALECGet Rating) have earned an average recommendation of “Buy” from the nine ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $31.88.

Several research firms recently commented on ALEC. The Goldman Sachs Group began coverage on shares of Alector in a report on Tuesday, April 12th. They issued a “sell” rating and a $9.00 price objective for the company. Citigroup cut their price target on shares of Alector from $43.00 to $40.00 and set a “buy” rating for the company in a report on Friday, February 25th. Zacks Investment Research raised shares of Alector from a “strong sell” rating to a “hold” rating in a report on Monday, May 9th. HC Wainwright reissued a “buy” rating and issued a $41.00 price target on shares of Alector in a report on Wednesday, March 16th. Finally, Barclays cut their price target on shares of Alector from $42.00 to $14.00 in a report on Wednesday.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Eaton Vance Management purchased a new position in Alector in the 4th quarter worth $27,000. Nauset Wealth Management. LLC purchased a new position in shares of Alector in the first quarter valued at about $36,000. Lazard Asset Management LLC purchased a new position in shares of Alector in the fourth quarter valued at about $64,000. Rockefeller Capital Management L.P. increased its position in shares of Alector by 50.2% in the third quarter. Rockefeller Capital Management L.P. now owns 3,004 shares of the company’s stock valued at $68,000 after acquiring an additional 1,004 shares during the period. Finally, O Shaughnessy Asset Management LLC purchased a new position in shares of Alector in the third quarter valued at about $75,000. 66.69% of the stock is owned by institutional investors.

Shares of ALEC stock traded up $0.43 during trading hours on Friday, hitting $8.62. 759,343 shares of the company were exchanged, compared to its average volume of 684,521. The firm has a fifty day simple moving average of $12.27 and a 200 day simple moving average of $16.88. Alector has a 52-week low of $7.50 and a 52-week high of $43.32. The stock has a market capitalization of $718.30 million, a price-to-earnings ratio of -20.52 and a beta of 1.36.

Alector (NASDAQ:ALECGet Rating) last issued its quarterly earnings results on Wednesday, February 23rd. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.55). The company had revenue of $13.99 million for the quarter, compared to analysts’ expectations of $75.34 million. Alector had a negative return on equity of 10.51% and a negative net margin of 12.65%. Research analysts forecast that Alector will post -0.97 EPS for the current fiscal year.

Alector Company Profile (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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