Alector (NASDAQ:ALEC) Upgraded by BTIG Research to “Buy” Rating

BTIG Research upgraded shares of Alector (NASDAQ:ALEC) from a neutral rating to a buy rating in a report published on Tuesday, Marketbeat reports. The brokerage currently has $6.00 price objective on the stock.

Several other equities analysts have also commented on ALEC. Morgan Stanley reissued an “underweight” rating on shares of Alector in a report on Thursday, January 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alector in a report on Wednesday, January 21st. Finally, Wall Street Zen lowered shares of Alector from a “hold” rating to a “sell” rating in a research report on Sunday, March 1st. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $4.17.

Alector Price Performance

Shares of NASDAQ ALEC opened at $2.38 on Tuesday. The stock has a market capitalization of $262.66 million, a PE ratio of -1.71 and a beta of 0.58. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.83 and a quick ratio of 3.83. The business has a fifty day moving average price of $1.95 and a two-hundred day moving average price of $2.03. Alector has a fifty-two week low of $0.87 and a fifty-two week high of $3.40.

Alector (NASDAQ:ALEC) last released its earnings results on Wednesday, February 25th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $6.24 million for the quarter, compared to analyst estimates of $1.78 million. As a group, equities analysts predict that Alector will post -1.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Lexington Partners L.P. bought a new position in shares of Alector in the third quarter worth about $30,000. Pinegrove Venture Partners LLC bought a new stake in shares of Alector during the 3rd quarter valued at approximately $30,000. Belvedere Trading LLC acquired a new position in Alector during the 3rd quarter worth approximately $31,000. HBK Sorce Advisory LLC acquired a new position in Alector during the 3rd quarter worth approximately $34,000. Finally, Savant Capital LLC bought a new position in Alector in the 3rd quarter valued at approximately $35,000. Institutional investors and hedge funds own 85.83% of the company’s stock.

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.