Alector, Inc. (NASDAQ:ALEC) Receives $3.50 Consensus Price Target from Brokerages

Shares of Alector, Inc. (NASDAQ:ALEC - Get Free Report) have received an average rating of "Hold" from the seven research firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $3.50.

A number of research analysts have recently commented on the stock. Stifel Nicolaus downgraded shares of Alector from a "buy" rating to a "hold" rating and set a $4.00 price objective for the company. in a research report on Monday, December 16th. HC Wainwright reissued a "buy" rating and set a $7.00 target price on shares of Alector in a report on Thursday, February 27th. Morgan Stanley reaffirmed an "underweight" rating and set a $1.50 price target (down previously from $3.00) on shares of Alector in a report on Friday, March 7th. Finally, Mizuho lowered shares of Alector from an "outperform" rating to a "neutral" rating and dropped their price objective for the company from $9.00 to $2.50 in a research report on Tuesday, December 17th.

Hedge Funds Weigh In On Alector

Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its holdings in shares of Alector by 64.7% in 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. Barclays PLC raised its stake in Alector by 132.4% during the third quarter. Barclays PLC now owns 176,800 shares of the company's stock valued at $824,000 after buying an additional 100,731 shares during the last quarter. Apollon Wealth Management LLC bought a new position in Alector in the 4th quarter worth about $47,000. SG Americas Securities LLC grew its holdings in shares of Alector by 27.9% during the fourth quarter. SG Americas Securities LLC now owns 39,334 shares of the company's stock valued at $74,000 after buying an additional 8,581 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of Alector by 24.2% in the 3rd quarter. Jane Street Group LLC now owns 154,942 shares of the company's stock worth $722,000 after purchasing an additional 30,180 shares in the last quarter. Institutional investors own 85.83% of the company's stock.

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Alector Stock Down 5.0 %

ALEC traded down $0.06 during trading on Monday, hitting $1.04. The company's stock had a trading volume of 237,230 shares, compared to its average volume of 774,417. Alector has a 12 month low of $1.04 and a 12 month high of $6.78. The firm's 50 day moving average price is $1.55 and its two-hundred day moving average price is $2.86. The stock has a market capitalization of $102.55 million, a price-to-earnings ratio of -0.61 and a beta of 0.65.

Alector (NASDAQ:ALEC - Get Free Report) last released its earnings results on Wednesday, February 26th. The company reported ($0.02) earnings per share for the quarter, topping analysts' consensus estimates of ($0.61) by $0.59. Alector had a negative return on equity of 108.77% and a negative net margin of 257.54%. The company had revenue of $54.24 million during the quarter, compared to the consensus estimate of $20.41 million. On average, sell-side analysts forecast that Alector will post -1.88 earnings per share for the current 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.