Alector Inc (NASDAQ:ALEC) has earned an average recommendation of “Buy” from the six research firms that are presently covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $26.67.
Separately, Cowen reaffirmed a “buy” rating on shares of Alector in a report on Monday, May 13th.
A number of hedge funds have recently modified their holdings of ALEC. Baillie Gifford & Co. purchased a new stake in Alector during the 1st quarter valued at about $41,000. Dean Capital Investments Management LLC acquired a new stake in Alector in the first quarter valued at approximately $624,000. Laurion Capital Management LP acquired a new stake in Alector in the first quarter valued at approximately $4,680,000. Federated Investors Inc. PA bought a new position in shares of Alector in the first quarter valued at approximately $21,965,000. Finally, New Leaf Venture Partners L.L.C. bought a new position in shares of Alector in the first quarter valued at approximately $14,747,000. Institutional investors and hedge funds own 39.90% of the company’s stock.
Shares of NASDAQ ALEC traded down $0.24 during midday trading on Friday, hitting $18.52. 62,067 shares of the stock traded hands, compared to its average volume of 140,895. The stock has a 50-day moving average price of $18.58. The stock has a market capitalization of $1.28 billion and a price-to-earnings ratio of -4.01. The company has a quick ratio of 7.92, a current ratio of 7.92 and a debt-to-equity ratio of 0.16. Alector has a one year low of $15.16 and a one year high of $27.00.
Alector (NASDAQ:ALEC) last released its quarterly earnings results on Monday, May 13th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.12). The firm had revenue of $5.61 million during the quarter. On average, equities analysts anticipate that Alector will post -1.38 earnings per share for the current year.
Alector Company Profile
Alector, Inc, a clinical stage biotechnology company, focuses on developing therapies that harness the immune system to cure neurodegenerative diseases. Its products in Phase I clinical trial include AL001, a humanized recombinant monoclonal antibody for the treatment of frontotemporal dementia; and AL002 for the treatment of Alzheimer's disease.
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