Alector’s (ALEC) Buy Rating Reaffirmed at BTIG Research

BTIG Research restated their buy rating on shares of Alector (NASDAQ:ALEC) in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a $5.00 price objective on the stock.

ALEC has been the subject of several other reports. Wall Street Zen raised shares of Alector from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Mizuho raised shares of Alector from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $2.50 to $3.50 in a research note on Monday, July 28th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $4.17.

Alector Price Performance

NASDAQ ALEC opened at $2.93 on Thursday. The business has a 50 day simple moving average of $2.31 and a 200 day simple moving average of $1.65. Alector has a 52-week low of $0.87 and a 52-week high of $6.14. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.78 and a current ratio of 3.78. The stock has a market cap of $296.55 million, a price-to-earnings ratio of -2.53 and a beta of 0.99.

Alector (NASDAQ:ALEC) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.15. The company had revenue of $7.87 million during the quarter, compared to analysts’ expectations of $2.76 million. Alector had a negative net margin of 142.10% and a negative return on equity of 112.06%. Alector has set its FY 2025 guidance at EPS. Analysts anticipate that Alector will post -1.88 earnings per share for the current fiscal year.

Insider Activity at Alector

In other news, Director Paula Hammond sold 14,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $2.36, for a total value of $33,040.00. Following the completion of the sale, the director owned 74,909 shares of the company’s stock, valued at approximately $176,785.24. This represents a 15.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 9.70% of the company’s stock.

Institutional Investors Weigh In On Alector

Several large investors have recently made changes to their positions in ALEC. Squarepoint Ops LLC acquired a new stake in Alector during the 4th quarter valued at $25,000. FNY Investment Advisers LLC lifted its holdings in Alector by 100.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 20,000 shares of the company’s stock valued at $28,000 after purchasing an additional 10,000 shares during the last quarter. Prudential Financial Inc. acquired a new stake in Alector during the 2nd quarter valued at $30,000. CWM LLC lifted its holdings in Alector by 370.7% during the 1st quarter. CWM LLC now owns 33,643 shares of the company’s stock valued at $41,000 after purchasing an additional 26,495 shares during the last quarter. Finally, Cerity Partners LLC acquired a new stake in Alector during the 1st quarter valued at $51,000. Institutional investors and hedge funds own 85.83% of the company’s stock.

About Alector

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.