William Blair Has Strong Outlook for Alector FY2024 Earnings

Alector, Inc. (NASDAQ:ALEC) – Investment analysts at William Blair increased their FY2024 earnings estimates for shares of Alector in a research note issued to investors on Wednesday, November 6th. William Blair analyst M. Minter now anticipates that the company will post earnings per share of ($1.88) for the year, up from their previous forecast of ($1.89). The consensus estimate for Alector’s current full-year earnings is ($1.92) per share. William Blair also issued estimates for Alector’s Q4 2024 earnings at ($0.65) EPS, Q1 2025 earnings at ($0.51) EPS, Q2 2025 earnings at ($0.46) EPS, Q3 2025 earnings at ($0.46) EPS, Q4 2025 earnings at ($0.48) EPS and FY2025 earnings at ($1.92) EPS.

Several other brokerages also recently commented on ALEC. HC Wainwright reissued a “buy” rating and issued a $35.00 price target on shares of Alector in a report on Thursday. Cantor Fitzgerald reissued an “overweight” rating on shares of Alector in a report on Tuesday, September 17th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $17.75.

Alector Trading Up 2.0 %

ALEC opened at $5.75 on Monday. The company has a 50 day moving average of $5.07 and a 200 day moving average of $5.12. The company has a market cap of $563.11 million, a PE ratio of -3.38 and a beta of 0.66. Alector has a 12 month low of $3.66 and a 12 month high of $8.90.

Alector (NASDAQ:ALEC) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.10. The company had revenue of $15.34 million during the quarter, compared to the consensus estimate of $16.33 million. Alector had a negative net margin of 257.54% and a negative return on equity of 102.50%.

Insider Buying and Selling at Alector

In other Alector news, insider Sara Kenkare-Mitra sold 13,926 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total value of $67,958.88. Following the transaction, the insider now owns 291,715 shares in the company, valued at approximately $1,423,569.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Marc Grasso sold 7,297 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total transaction of $35,609.36. Following the transaction, the chief financial officer now owns 130,740 shares in the company, valued at $638,011.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sara Kenkare-Mitra sold 13,926 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $4.88, for a total transaction of $67,958.88. Following the transaction, the insider now owns 291,715 shares in the company, valued at $1,423,569.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,722 shares of company stock worth $232,883. 9.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alector

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. boosted its stake in Alector by 4.1% during the second quarter. Federated Hermes Inc. now owns 68,538 shares of the company’s stock worth $311,000 after acquiring an additional 2,709 shares in the last quarter. Susquehanna Fundamental Investments LLC boosted its stake in Alector by 2.8% during the second quarter. Susquehanna Fundamental Investments LLC now owns 129,664 shares of the company’s stock worth $589,000 after acquiring an additional 3,500 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Alector by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 112,920 shares of the company’s stock worth $513,000 after acquiring an additional 3,790 shares in the last quarter. ProShare Advisors LLC boosted its stake in Alector by 24.1% during the first quarter. ProShare Advisors LLC now owns 19,709 shares of the company’s stock worth $119,000 after acquiring an additional 3,827 shares in the last quarter. Finally, American International Group Inc. boosted its stake in Alector by 13.0% during the first quarter. American International Group Inc. now owns 35,655 shares of the company’s stock worth $215,000 after acquiring an additional 4,105 shares in the last quarter. Hedge funds and other institutional investors own 85.83% of the company’s stock.

Alector Company Profile

Alector, Inc, a clinical stage biopharmaceutical company, develops therapies for the treatment of neurodegeneration diseases. Its products include AL001, an immune activity in the brain with genetic links to multiple neurodegenerative disorders, 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.