Alector, Inc. (NASDAQ:ALEC) Receives Consensus Recommendation of “Hold” from Brokerages

Alector, Inc. (NASDAQ:ALEC) has received a consensus recommendation of “Hold” from the seven research firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $3.50.

ALEC has been the topic of a number of recent research reports. Morgan Stanley reiterated an “underweight” rating and issued a $1.50 target price (down from $3.00) on shares of Alector in a research note on Friday, March 7th. Mizuho cut shares of Alector from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $9.00 to $2.50 in a research report on Tuesday, December 17th. Stifel Nicolaus cut 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. Bank of America lowered Alector from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $9.00 to $1.00 in a report on Wednesday, December 4th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of Alector in a research note on Thursday, February 27th.

Hedge Funds Weigh In On Alector

Several hedge funds have recently made changes to their positions in ALEC. Point72 DIFC Ltd bought a new stake in Alector during the third quarter worth approximately $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Alector during the 3rd quarter valued at $40,000. Squarepoint Ops LLC bought a new stake in shares of Alector during the 4th quarter worth $25,000. Tema Etfs LLC acquired a new position in shares of Alector in the 4th quarter worth $27,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Alector by 71.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 14,670 shares of the company’s stock worth $28,000 after purchasing an additional 6,096 shares during the period. Institutional investors and hedge funds own 85.83% of the company’s stock.

Alector Stock Down 3.0 %

NASDAQ:ALEC opened at $1.29 on Monday. The company has a market cap of $127.82 million, a PE ratio of -0.76 and a beta of 0.65. The business’s 50 day moving average is $1.59 and its two-hundred day moving average is $2.95. Alector has a 52 week low of $1.26 and a 52 week high of $6.78.

Alector (NASDAQ:ALEC) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.59. The company had revenue of $54.24 million for the quarter, compared to the consensus estimate of $20.41 million. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. As a group, sell-side analysts expect 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.