HC Wainwright Weighs in on Alector FY2029 Earnings

Alector, Inc. (NASDAQ:ALEC - Free Report) - Equities researchers at HC Wainwright issued their FY2029 earnings per share estimates for Alector in a note issued to investors on Thursday, February 27th. HC Wainwright analyst A. Fein expects that the company will earn ($0.72) per share for the year. HC Wainwright has a "Buy" rating and a $7.00 price objective on the stock. The consensus estimate for Alector's current full-year earnings is ($1.88) per share.

Alector (NASDAQ:ALEC - Get Free Report) last posted 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 business had revenue of $54.24 million for the quarter, compared to analyst estimates of $20.41 million.

Several other analysts also recently commented on the stock. Bank of America downgraded shares of Alector from a "neutral" rating to an "underperform" rating and reduced their target price for the stock from $9.00 to $1.00 in a report on Wednesday, December 4th. Morgan Stanley downgraded Alector from an "equal weight" rating to an "underweight" rating and decreased their target price for the company from $10.00 to $3.00 in a research report on Tuesday, November 26th. BTIG Research lowered their target price on Alector from $16.00 to $5.00 and set a "buy" rating on the stock in a research note on Tuesday, November 26th. Stifel Nicolaus downgraded Alector from a "buy" rating to a "hold" rating and set a $4.00 price target for the company. in a research note on Monday, December 16th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Alector in a research report on Tuesday, November 26th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Alector has a consensus rating of "Hold" and an average price target of $3.75.

Alector Trading Up 3.2 %

Shares of NASDAQ:ALEC traded up $0.05 on Friday, hitting $1.46. The company had a trading volume of 1,401,350 shares, compared to its average volume of 717,782. The stock has a market cap of $144.17 million, a price-to-earnings ratio of -0.86 and a beta of 0.61. The stock has a 50 day moving average price of $1.76 and a 200 day moving average price of $3.46. Alector has a 1-year low of $1.30 and a 1-year high of $7.10.

Institutional Investors Weigh In On Alector

A number of large investors have recently added to or reduced their stakes in ALEC. Tower Research Capital LLC TRC lifted its position in shares of Alector by 71.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 14,670 shares of the company's stock valued at $28,000 after acquiring an additional 6,096 shares during the period. Point72 DIFC Ltd acquired a new position in Alector in the third quarter valued at about $29,000. ProShare Advisors LLC lifted its position in Alector by 30.3% during the fourth quarter. ProShare Advisors LLC now owns 27,367 shares of the company's stock worth $52,000 after purchasing an additional 6,367 shares during the period. Creative Planning grew its stake 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 buying an additional 6,723 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its stake in Alector by 65.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 18,718 shares of the company's stock worth $87,000 after buying an additional 7,395 shares in the last quarter. Institutional investors and hedge funds own 85.83% of the company's stock.

Alector Company Profile

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.