Alector, Inc. (NASDAQ:ALEC) Given Average Rating of “Hold” by Analysts

Shares of Alector, Inc. (NASDAQ:ALEC) have earned an average rating of “Hold” from the seven brokerages that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $3.50.

ALEC has been the subject of a number of recent analyst reports. HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of Alector in a research report on Thursday, February 27th. 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 research report on Monday, December 16th. Morgan Stanley reissued an “underweight” rating and issued a $1.50 price objective (down from $3.00) on shares of Alector in a report on Friday, March 7th. Finally, Mizuho downgraded Alector from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $9.00 to $2.50 in a report on Tuesday, December 17th.

Hedge Funds Weigh In On Alector

Several hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its position 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 purchasing 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. ProShare Advisors LLC boosted its position in shares of Alector by 30.3% during the fourth quarter. ProShare Advisors LLC now owns 27,367 shares of the company’s stock worth $52,000 after buying an additional 6,367 shares during the period. Nordea Investment Management AB boosted its position in shares of Alector by 5.1% during the fourth quarter. Nordea Investment Management AB now owns 165,713 shares of the company’s stock worth $295,000 after buying an additional 7,971 shares during the period. Finally, SG Americas Securities LLC grew 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 buying an additional 8,581 shares in the last quarter. Institutional investors and hedge funds own 85.83% of the company’s stock.

Alector Stock Down 6.4 %

Shares of ALEC stock opened at $1.02 on Monday. Alector has a fifty-two week low of $1.01 and a fifty-two week high of $6.78. The firm’s 50 day moving average price is $1.53 and its two-hundred day moving average price is $2.83. The stock has a market cap of $101.07 million, a price-to-earnings ratio of -0.60 and a beta of 0.73.

Alector (NASDAQ:ALEC) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.59. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. The business had revenue of $54.24 million during the quarter, compared to analyst estimates of $20.41 million. On average, equities analysts forecast that Alector will post -1.88 EPS 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.