Alector Inc (NASDAQ:ALEC) Given Average Recommendation of “Buy” by Analysts

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Alector Inc (NASDAQ:ALEC) has received an average recommendation of “Buy” from the six ratings firms that are covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $26.67.

A number of analysts have recently commented on the company. Morgan Stanley assumed coverage on Alector in a research note on Monday, March 4th. They set an “overweight” rating and a $27.00 price target on the stock. Cowen assumed coverage on Alector in a research note on Monday, March 4th. They set an “outperform” rating on the stock. Leerink Swann assumed coverage on Alector in a research note on Monday, March 4th. They set an “outperform” rating on the stock. Barclays assumed coverage on Alector in a research note on Monday, March 4th. They set an “overweight” rating and a $27.00 price target on the stock. Finally, Bank of America assumed coverage on Alector in a research note on Monday, March 4th. They set a “buy” rating and a $26.00 price target on the stock.

Shares of ALEC stock opened at $20.27 on Wednesday. Alector has a 12 month low of $15.16 and a 12 month high of $27.00. The stock has a market cap of $1.19 billion and a PE ratio of -4.39. The company has a current ratio of 7.92, a quick ratio of 7.92 and a debt-to-equity ratio of 0.16.

Alector (NASDAQ:ALEC) last announced its quarterly earnings results on Monday, May 13th. The company reported ($0.42) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.12). The firm had revenue of $5.61 million during the quarter. Equities analysts predict that Alector will post -1.38 EPS for the current year.

Several institutional investors have recently bought and sold shares of the stock. Gilder Gagnon Howe & Co. LLC acquired a new position in shares of Alector in the first quarter worth approximately $4,088,000. FMR LLC acquired a new position in shares of Alector in the first quarter worth approximately $20,862,000. Perceptive Advisors LLC acquired a new position in shares of Alector in the first quarter worth approximately $9,579,000. BlueCrest Capital Management Ltd acquired a new position in shares of Alector in the first quarter worth approximately $309,000. Finally, Morgan Stanley acquired a new position in shares of Alector in the first quarter worth approximately $36,000. 39.90% of the stock is currently owned by institutional investors.

Alector Company Profile

Alector, Inc, a clinical stage biotechnology company, focuses on developing therapies that harness the immune system to cure neurodegenerative diseases. Its products in Phase I clinical trial include AL001, a humanized recombinant monoclonal antibody for the treatment of frontotemporal dementia; and AL002 for the treatment of Alzheimer's disease.

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Analyst Recommendations for Alector (NASDAQ:ALEC)

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