Alector, Inc. (NASDAQ:ALEC) Receives $3.75 Consensus Price Target from Analysts

Alector, Inc. (NASDAQ:ALEC) has been given a consensus recommendation of “Hold” by the seven research firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $3.75.

A number of equities analysts have recently commented on ALEC shares. BTIG Research reduced their price objective on shares of Alector from $16.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Cantor Fitzgerald restated an “overweight” rating on shares of Alector in a research note on Tuesday, November 26th. Bank of America cut Alector from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $9.00 to $1.00 in a report on Wednesday, December 4th. Morgan Stanley lowered Alector from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $10.00 to $3.00 in a research note on Tuesday, November 26th. Finally, Mizuho lowered Alector from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $9.00 to $2.50 in a research note on Tuesday, December 17th.

Alector Stock Up 3.2 %

ALEC stock opened at $1.92 on Friday. The business’s 50-day simple moving average is $3.76 and its 200 day simple moving average is $4.64. The company has a market cap of $188.03 million, a PE ratio of -1.13 and a beta of 0.51. Alector has a twelve month low of $1.73 and a twelve month high of $8.90.

Alector (NASDAQ:ALEC) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.10. The business had revenue of $15.34 million for the quarter, compared to analysts’ expectations of $16.33 million. Alector had a negative return on equity of 108.77% and a negative net margin of 257.54%. On average, equities research analysts anticipate that Alector will post -1.85 EPS for the current year.

Insider Buying and Selling at Alector

In other Alector news, insider Sara Kenkare-Mitra sold 26,500 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $2.52, for a total transaction of $66,780.00. Following the transaction, the insider now owns 565,215 shares of the company’s stock, valued at approximately $1,424,341.80. This represents a 4.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Arnon Rosenthal sold 52,172 shares of Alector stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $2.52, for a total value of $131,473.44. Following the completion of the sale, the chief executive officer now directly owns 2,507,074 shares of the company’s stock, valued at $6,317,826.48. This trade represents a 2.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,161 shares of company stock worth $239,806. 9.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alector

Several hedge funds have recently added to or reduced their stakes in ALEC. Point72 DIFC Ltd bought a new position in Alector in the third quarter valued at approximately $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Alector in the 3rd quarter valued at $40,000. nVerses Capital LLC acquired a new position in shares of Alector in the 3rd quarter valued at $51,000. Valence8 US LP bought a new position in shares of Alector in the 3rd quarter worth $69,000. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of Alector by 65.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 18,718 shares of the company’s stock worth $87,000 after purchasing an additional 7,395 shares during the period. Institutional investors 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.