Alector (NASDAQ:ALEC) Posts Earnings Results, Beats Expectations By $0.59 EPS

Alector (NASDAQ:ALECGet Rating) posted its quarterly earnings results on Thursday. The company reported $0.12 EPS for the quarter, beating the consensus estimate of ($0.47) by $0.59, Fidelity Earnings reports. Alector had a net margin of 12.06% and a return on equity of 12.03%.

Alector Trading Up 15.3 %

Shares of NASDAQ ALEC opened at $13.06 on Friday. Alector has a 52 week low of $7.50 and a 52 week high of $29.30. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 33.49 and a beta of 1.08. The company’s 50-day moving average price is $10.19 and its 200 day moving average price is $12.15.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ALEC. Point72 Hong Kong Ltd raised its holdings in Alector by 199.1% in the first quarter. Point72 Hong Kong Ltd now owns 9,635 shares of the company’s stock valued at $137,000 after buying an additional 6,414 shares during the period. Quantbot Technologies LP acquired a new stake in Alector during the first quarter worth about $25,000. State Street Corp raised its stake in Alector by 25.2% during the first quarter. State Street Corp now owns 3,836,093 shares of the company’s stock worth $54,664,000 after acquiring an additional 772,398 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of Alector in the first quarter valued at approximately $504,000. Finally, Invesco Ltd. boosted its holdings in shares of Alector by 88.8% in the first quarter. Invesco Ltd. now owns 50,877 shares of the company’s stock valued at $726,000 after acquiring an additional 23,934 shares in the last quarter. 66.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ALEC has been the topic of several recent analyst reports. The Goldman Sachs Group lowered their target price on shares of Alector from $9.00 to $6.00 and set a “sell” rating on the stock in a research note on Tuesday, May 24th. Mizuho started coverage on shares of Alector in a report on Wednesday, July 6th. They set a “buy” rating and a $15.00 price target for the company. Citigroup cut their price target on shares of Alector from $34.00 to $19.00 and set a “buy” rating for the company in a report on Monday, July 11th. Finally, Barclays decreased their target price on Alector from $42.00 to $14.00 in a research note on Wednesday, May 11th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Alector has an average rating of “Moderate Buy” and an average target price of $20.86.

Alector Company Profile

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Alector, Inc, a clinical stage biopharmaceutical company, develops therapies for the treatment of neurodegeneration diseases. Its products include AL001, a humanized recombinant monoclonal antibody, 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.

Further Reading

Earnings History for Alector (NASDAQ:ALEC)

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