Alector (NASDAQ:ALEC) Raised to “Overweight” at Cantor Fitzgerald

Alector (NASDAQ:ALEC) was upgraded by stock analysts at Cantor Fitzgerald from a “neutral” rating to an “overweight” rating in a research report issued on Wednesday, Marketbeat reports.

Several other equities research analysts have also recently commented on ALEC. BTIG Research raised Alector from a “neutral” rating to a “buy” rating and set a $6.00 price target for the company in a research note on Tuesday, March 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alector in a research report on Wednesday, January 21st. Wall Street Zen cut shares of Alector from a “hold” rating to a “sell” rating in a research note on Sunday, March 1st. Finally, Morgan Stanley reissued an “underweight” rating on shares of Alector in a research report on Thursday, January 8th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.17.

Alector Price Performance

Shares of NASDAQ:ALEC opened at $2.55 on Wednesday. The firm has a market cap of $281.42 million, a price-to-earnings ratio of -1.83 and a beta of 0.58. Alector has a 1 year low of $0.90 and a 1 year high of $3.40. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.30. The business has a fifty day simple moving average of $2.19 and a 200 day simple moving average of $1.94.

Alector (NASDAQ:ALEC) last issued its earnings results on Wednesday, February 25th. The company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.05. Alector had a negative return on equity of 224.96% and a negative net margin of 679.16%.The firm had revenue of $6.24 million for the quarter, compared to the consensus estimate of $1.78 million. As a group, sell-side analysts predict that Alector will post -1.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alector

Institutional investors have recently bought and sold shares of the stock. Foresite Capital Management IV LLC acquired a new stake in shares of Alector in the fourth quarter valued at about $6,064,000. Balyasny Asset Management L.P. acquired a new stake in shares of Alector in the fourth quarter valued at about $5,094,000. 683 Capital Management LLC grew its position in shares of Alector by 235.0% in the fourth quarter. 683 Capital Management LLC now owns 3,350,000 shares of the company’s stock valued at $5,226,000 after purchasing an additional 2,350,000 shares during the last quarter. Ikarian Capital LLC grew its position in shares of Alector by 174.0% in the fourth quarter. Ikarian Capital LLC now owns 2,082,606 shares of the company’s stock valued at $3,249,000 after purchasing an additional 1,322,606 shares during the last quarter. Finally, Spruce Street Capital LP acquired a new stake in shares of Alector in the fourth quarter valued at about $1,744,000. 85.83% of the stock is currently owned by institutional investors.

Alector Company Profile

Alector is a clinical-stage biotechnology company headquartered in South San Francisco, California. Founded in 2013, the company is focused on discovering and developing immuno-neurology therapies that target the innate immune system to treat a range of neurodegenerative disorders. Alector’s approach aims to harness the body’s natural defense mechanisms to clear pathological proteins and restore neuronal function in conditions such as Alzheimer’s disease and frontotemporal dementia.

The company’s pipeline includes multiple product candidates in both preclinical and clinical stages, with lead programs AL001 and AL002 advancing in frontotemporal dementia and Alzheimer’s disease studies.