Alector (NASDAQ:ALEC) Announces Earnings Results, Misses Expectations By $0.03 EPS

Alector (NASDAQ:ALEC) issued its quarterly earnings data on Monday. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.03), Bloomberg Earnings reports. The company had revenue of $6.92 million for the quarter.

ALEC stock opened at $15.20 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.92 and a quick ratio of 7.92. Alector has a 52-week low of $15.16 and a 52-week high of $27.00. The company’s 50-day moving average price is $19.08. The company has a market capitalization of $1.28 billion and a PE ratio of -3.29.

In other Alector news, major shareholder Orbimed Advisors Llc sold 650,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $17.90, for a total transaction of $11,635,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 34.40% of the stock is owned by corporate insiders.

A number of equities research analysts recently issued reports on the stock. Cowen reiterated a “buy” rating on shares of Alector in a report on Wednesday, July 17th. ValuEngine upgraded shares of Alector from a “hold” rating to a “buy” rating in a report on Thursday. Seven research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus price target of $26.67.

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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