Analysts Set Alector, Inc. (NASDAQ:ALEC) Target Price at $31.88

Shares of Alector, Inc. (NASDAQ:ALECGet Rating) have been given an average recommendation of “Buy” by the nine analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $31.88.

ALEC has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Alector from a “strong sell” rating to a “hold” rating in a research note on Monday, May 9th. Stifel Nicolaus cut Alector from a “buy” rating to a “hold” rating and cut their price target for the company from $32.00 to $18.00 in a report on Tuesday, March 8th. HC Wainwright reaffirmed a “buy” rating and issued a $41.00 price target on shares of Alector in a report on Wednesday, March 16th. The Goldman Sachs Group started coverage on Alector in a report on Tuesday, April 12th. They issued a “sell” rating and a $9.00 price target for the company. Finally, Citigroup cut their price target on Alector from $43.00 to $40.00 and set a “buy” rating for the company in a report on Friday, February 25th.

Shares of NASDAQ:ALEC opened at $8.63 on Friday. Alector has a 52 week low of $7.50 and a 52 week high of $43.32. The company’s fifty day moving average is $12.17 and its 200-day moving average is $16.72. The company has a market capitalization of $719.14 million, a PE ratio of -20.55 and a beta of 1.36.

Alector (NASDAQ:ALECGet Rating) last issued its earnings results on Wednesday, February 23rd. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.55). Alector had a negative net margin of 12.65% and a negative return on equity of 10.51%. The firm had revenue of $13.99 million during the quarter, compared to analyst estimates of $75.34 million. On average, equities research analysts predict that Alector will post -0.97 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in the business. Federated Hermes Inc. raised its holdings in 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 purchasing an additional 650,187 shares during the last quarter. BlackRock Inc. raised its holdings in Alector by 2.1% during the 4th quarter. BlackRock Inc. now owns 5,380,409 shares of the company’s stock worth $111,106,000 after purchasing an additional 109,595 shares during the last quarter. EcoR1 Capital LLC raised its holdings in Alector by 17.7% during the 3rd quarter. EcoR1 Capital LLC now owns 4,994,970 shares of the company’s stock worth $113,985,000 after purchasing an additional 752,336 shares during the last quarter. State Street Corp increased its stake in shares of Alector by 25.2% in the 1st quarter. State Street Corp now owns 3,836,093 shares of the company’s stock valued at $54,664,000 after acquiring an additional 772,398 shares during the last quarter. Finally, FMR LLC bought a new stake in shares of Alector in the 1st quarter valued at about $20,862,000. 66.69% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Alector (NASDAQ:ALEC)

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