Alector, Inc. (NASDAQ:ALEC) Given Consensus Recommendation of “Hold” by Brokerages

Alector, Inc. (NASDAQ:ALEC) has been assigned a consensus recommendation of “Hold” from the seven analysts that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $3.75.

Several analysts have issued reports on the stock. Stifel Nicolaus downgraded shares of Alector from a “buy” rating to a “hold” rating and set a $4.00 price target on the stock. in a report on Monday, December 16th. HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of Alector in a research report on Thursday, February 27th. Morgan Stanley lowered shares of Alector from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $10.00 to $3.00 in a research report on Tuesday, November 26th. Mizuho lowered shares of Alector from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $9.00 to $2.50 in a research report on Tuesday, December 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Alector in a research report on Tuesday, November 26th.

Hedge Funds Weigh In On Alector

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its position in Alector by 64.7% during the third quarter. JPMorgan Chase & Co. now owns 2,728,823 shares of the company’s stock worth $12,716,000 after purchasing an additional 1,072,298 shares during the last quarter. Creative Planning increased its position in Alector by 54.2% during the third quarter. Creative Planning now owns 19,117 shares of the company’s stock worth $89,000 after purchasing an additional 6,723 shares during the last quarter. Barclays PLC increased its position in Alector by 132.4% during the third quarter. Barclays PLC now owns 176,800 shares of the company’s stock worth $824,000 after purchasing an additional 100,731 shares during the last quarter. Apollon Wealth Management LLC acquired a new position in Alector during the fourth quarter worth approximately $47,000. Finally, SG Americas Securities LLC increased its position in Alector by 27.9% during the fourth quarter. SG Americas Securities LLC now owns 39,334 shares of the company’s stock worth $74,000 after purchasing an additional 8,581 shares during the last quarter. Institutional investors and hedge funds own 85.83% of the company’s stock.

Alector Price Performance

Shares of NASDAQ ALEC opened at $1.55 on Thursday. Alector has a 12-month low of $1.30 and a 12-month high of $7.10. The company has a market capitalization of $153.58 million, a PE ratio of -0.91 and a beta of 0.65. The firm’s 50-day moving average is $1.75 and its two-hundred day moving average is $3.42.

Alector (NASDAQ:ALEC) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.59. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. The company had revenue of $54.24 million for the quarter, compared to the consensus estimate of $20.41 million. On average, analysts forecast that Alector will post -1.88 EPS for the current fiscal year.

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.