Alector, Inc. (NASDAQ:ALEC) Receives $3.50 Consensus PT from Brokerages

Shares of Alector, Inc. (NASDAQ:ALEC) have received a consensus rating of “Hold” from the seven analysts that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $3.50.

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

Institutional Investors Weigh In On Alector

Several institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. raised its holdings in Alector by 64.7% during the third quarter. JPMorgan Chase & Co. now owns 2,728,823 shares of the company’s stock valued at $12,716,000 after buying an additional 1,072,298 shares in the last quarter. Barclays PLC increased its holdings in shares of Alector by 132.4% during the 3rd quarter. Barclays PLC now owns 176,800 shares of the company’s stock valued at $824,000 after acquiring an additional 100,731 shares during the last quarter. Apollon Wealth Management LLC bought a new position in shares of Alector in the 4th quarter valued at approximately $47,000. SG Americas Securities LLC lifted its holdings in Alector by 27.9% in the 4th quarter. SG Americas Securities LLC now owns 39,334 shares of the company’s stock worth $74,000 after purchasing an additional 8,581 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in Alector by 24.2% during the third quarter. Jane Street Group LLC now owns 154,942 shares of the company’s stock worth $722,000 after purchasing an additional 30,180 shares during the period. Institutional investors and hedge funds own 85.83% of the company’s stock.

Alector Stock Down 6.4 %

ALEC opened at $1.02 on Monday. The firm has a market capitalization of $101.07 million, a P/E ratio of -0.60 and a beta of 0.73. The stock has a fifty day moving average of $1.53 and a 200-day moving average of $2.79. Alector has a 12-month low of $1.01 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) EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $20.41 million. On average, analysts expect that Alector will post -1.88 earnings per share for the current fiscal year.

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.