Morgan Stanley restated their underweight rating on shares of Alector (NASDAQ:ALEC - Free Report) in a report released on Friday morning,Benzinga reports. Morgan Stanley currently has a $1.50 target price on the stock, down from their prior target price of $3.00.
Several other equities research analysts have also commented on ALEC. BTIG Research lowered their price objective on Alector from $16.00 to $5.00 and set a "buy" rating on the stock in a research report on Tuesday, November 26th. Cantor Fitzgerald reissued an "overweight" rating on shares of Alector in a report on Tuesday, November 26th. Stifel Nicolaus cut shares of Alector from a "buy" rating to a "hold" rating and set a $4.00 price objective for the company. in a report on Monday, December 16th. HC Wainwright reiterated a "buy" rating and issued a $7.00 price objective on shares of Alector in a research report on Thursday, February 27th. Finally, Mizuho cut Alector from an "outperform" rating to a "neutral" rating and dropped their target price for the company from $9.00 to $2.50 in a research report on Tuesday, December 17th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Alector has an average rating of "Hold" and an average target price of $3.50.
Check Out Our Latest Research Report on Alector
Alector Price Performance
NASDAQ:ALEC traded up $0.01 during midday trading on Friday, hitting $1.40. The company's stock had a trading volume of 828,115 shares, compared to its average volume of 714,953. Alector has a fifty-two week low of $1.30 and a fifty-two week high of $6.78. The firm has a market cap of $138.72 million, a P/E ratio of -0.82 and a beta of 0.65. The firm's 50 day moving average is $1.72 and its 200-day moving average is $3.30.
Alector (NASDAQ:ALEC - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $54.24 million for the quarter, compared to analyst estimates of $20.41 million. Alector had a negative net margin of 257.54% and a negative return on equity of 108.77%. As a group, analysts forecast that Alector will post -1.88 EPS for the current year.
Institutional Trading of Alector
Several institutional investors have recently modified their holdings of the stock. Creative Planning lifted its stake in Alector by 54.2% in the 3rd quarter. Creative Planning now owns 19,117 shares of the company's stock valued at $89,000 after buying an additional 6,723 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Alector by 19.5% during the third quarter. Victory Capital Management Inc. now owns 186,747 shares of the company's stock valued at $870,000 after acquiring an additional 30,513 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Alector in the third quarter valued at approximately $90,000. Massachusetts Financial Services Co. MA boosted its stake in shares of Alector by 54.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 174,718 shares of the company's stock worth $814,000 after acquiring an additional 61,798 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Alector by 14.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 760,606 shares of the company's stock worth $3,544,000 after purchasing an additional 94,145 shares in the last quarter. Institutional investors and hedge funds own 85.83% of the company's stock.
About Alector
(
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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.
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