Barclays Cuts Alector (NASDAQ:ALEC) Price Target to $14.00

Alector (NASDAQ:ALEC – Get Rating) had its price objective dropped by Barclays from $42.00 to $14.00 in a research note issued to investors on Wednesday, The Fly reports. Barclays‘s price objective would suggest a potential upside of 71.57% from the company’s current price.

Several other research analysts also recently weighed in on the stock. HC Wainwright restated a “buy” rating and set a $41.00 price target on shares of Alector in a research report on Wednesday, March 16th. Stifel Nicolaus cut shares of Alector from a “buy” rating to a “hold” rating and dropped their price objective for the company from $32.00 to $18.00 in a research note on Tuesday, March 8th. Zacks Investment Research raised shares of Alector from a “strong sell” rating to a “hold” rating in a research note on Monday. The Goldman Sachs Group started coverage on shares of Alector in a research note on Tuesday, April 12th. They set a “sell” rating and a $9.00 price objective for the company. Finally, Citigroup dropped their price objective on shares of Alector from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, February 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $31.56.

ALEC opened at $8.16 on Wednesday. Alector has a twelve month low of $7.82 and a twelve month high of $43.32. The company has a 50-day moving average price of $12.67 and a 200 day moving average price of $17.16. The company has a market cap of $679.95 million, a PE ratio of -19.43 and a beta of 1.36.

Alector (NASDAQ:ALEC – Get Rating) last released its quarterly earnings results on Wednesday, February 23rd. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.55). Alector had a negative return on equity of 10.51% and a negative net margin of 12.65%. The company had revenue of $13.99 million for the quarter, compared to analyst estimates of $75.34 million. As a group, sell-side analysts expect that Alector will post -0.56 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the company. Eaton Vance Management purchased a new stake in shares of Alector in the 4th quarter valued at approximately $27,000. Nauset Wealth Management. LLC purchased a new stake in shares of Alector in the 1st quarter valued at approximately $36,000. Lazard Asset Management LLC purchased a new stake in shares of Alector in the 4th quarter valued at approximately $64,000. Rockefeller Capital Management L.P. grew its stake in shares of Alector by 50.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 3,004 shares of the company’s stock valued at $68,000 after buying an additional 1,004 shares during the period. Finally, O Shaughnessy Asset Management LLC purchased a new stake in shares of Alector in the 3rd quarter valued at approximately $75,000. 66.69% of the stock is owned by institutional investors and hedge funds.

About Alector (Get Rating)

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.

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