HC Wainwright Cuts Alector (NASDAQ:ALEC) Price Target to $7.00

Alector (NASDAQ:ALEC) had its price target reduced by HC Wainwright from $35.00 to $7.00 in a report published on Friday, MarketBeat.com reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Alector’s Q1 2025 earnings at ($0.42) EPS, Q2 2025 earnings at ($0.42) EPS, Q3 2025 earnings at ($0.42) EPS, Q4 2025 earnings at ($0.42) EPS, FY2025 earnings at ($1.66) EPS, FY2026 earnings at ($1.60) EPS, FY2027 earnings at ($0.76) EPS and FY2028 earnings at ($0.39) EPS.

A number of other analysts have also recently weighed in on the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alector in a research report on Tuesday, November 26th. BTIG Research decreased their price target on Alector from $16.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Finally, Morgan Stanley lowered shares of Alector from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $10.00 to $3.00 in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Alector presently has an average rating of “Moderate Buy” and an average target price of $8.40.

Alector Trading Up 1.6 %

Shares of ALEC opened at $2.59 on Friday. The company’s 50 day simple moving average is $4.62 and its 200-day simple moving average is $4.98. The firm has a market cap of $253.65 million, a PE ratio of -1.52 and a beta of 0.66. Alector has a 12-month low of $2.37 and a 12-month high of $8.90.

Alector (NASDAQ:ALEC) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.43) EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.10. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. The company had revenue of $15.34 million for the quarter, compared to analyst estimates of $16.33 million. As a group, equities research analysts forecast that Alector will post -1.86 EPS for the current fiscal year.

Insider Transactions at Alector

In other Alector news, insider Sara Kenkare-Mitra sold 13,926 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total transaction of $67,958.88. Following the transaction, the insider now directly owns 291,715 shares in the company, valued at approximately $1,423,569.20. This represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Arnon Rosenthal sold 26,499 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total transaction of $129,315.12. Following the completion of the transaction, the chief executive officer now directly owns 1,948,746 shares of the company’s stock, valued at approximately $9,509,880.48. This trade represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 47,722 shares of company stock valued at $232,883. Corporate insiders own 9.10% of the company’s stock.

Institutional Investors Weigh In On Alector

A number of institutional investors and hedge funds have recently modified their holdings of the company. Point72 DIFC Ltd purchased a new stake in shares of Alector in the 3rd quarter worth about $29,000. Gladius Capital Management LP purchased a new stake in shares of Alector in the second quarter valued at about $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Alector in the third quarter valued at approximately $40,000. Lazard Asset Management LLC purchased a new position in shares of Alector during the 1st quarter worth approximately $59,000. Finally, nVerses Capital LLC purchased a new position in shares of Alector during the 3rd quarter worth approximately $51,000. 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.