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

Alector (NASDAQ:ALEC – Get Rating) released its earnings results on Thursday. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.59, Fidelity Earnings reports. Alector had a return on equity of 12.03% and a net margin of 12.06%.

Alector Price Performance

Shares of NASDAQ:ALEC opened at $13.06 on Friday. Alector has a 1 year low of $7.50 and a 1 year high of $29.30. The company has a market cap of $1.09 billion, a PE ratio of 33.49 and a beta of 1.08. The stock’s 50-day moving average is $10.19 and its 200 day moving average is $12.15.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ALEC shares. Barclays lowered their target price on Alector from $42.00 to $14.00 in a research note on Wednesday, May 11th. Mizuho began coverage on Alector in a research note on Wednesday, July 6th. They issued a “buy” rating and a $15.00 target price for the company. Citigroup reduced their price target on Alector from $34.00 to $19.00 and set a “buy” rating on the stock in a report on Monday, July 11th. Finally, The Goldman Sachs Group reduced their price target on Alector from $9.00 to $6.00 and set a “sell” rating on the stock in a report on Tuesday, May 24th. 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.86.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. grew its holdings in shares of Alector by 12.3% during the 1st quarter. Federated Hermes Inc. now owns 5,931,034 shares of the company’s stock worth $84,517,000 after acquiring an additional 650,187 shares during the period. State Street Corp grew its holdings in shares of Alector by 25.2% during the 1st 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. Renaissance Technologies LLC grew its holdings in shares of Alector by 158.1% during the 1st quarter. Renaissance Technologies LLC now owns 705,780 shares of the company’s stock worth $10,057,000 after acquiring an additional 432,300 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Alector by 2.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 422,696 shares of the company’s stock worth $6,024,000 after acquiring an additional 9,928 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Alector by 141.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 386,087 shares of the company’s stock worth $5,502,000 after acquiring an additional 226,182 shares during the period. Hedge funds and other institutional investors own 66.69% of the company’s stock.

About Alector

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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.