Analysts Set Alector Inc (ALEC) Price Target at $26.67

Share on StockTwits

Alector Inc (NASDAQ:ALEC) has been assigned a consensus rating of “Buy” from the six research firms that are currently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $26.67.

Several research firms have recently issued reports on ALEC. Svb Leerink began coverage on shares of Alector in a research report on Monday, March 4th. They issued an “outperform” rating on the stock. Cowen began coverage on shares of Alector in a research report on Monday, March 4th. They issued an “outperform” rating on the stock. Bank of America began coverage on shares of Alector in a research report on Monday, March 4th. They issued a “buy” rating and a $26.00 price target on the stock. Barclays began coverage on shares of Alector in a research report on Monday, March 4th. They issued an “overweight” rating and a $27.00 price target on the stock. Finally, Morgan Stanley began coverage on shares of Alector in a research note on Monday, March 4th. They set an “overweight” rating and a $27.00 price objective for the company.

A number of large investors have recently modified their holdings of the stock. Baillie Gifford & Co. purchased a new position in Alector in the 1st quarter worth approximately $41,000. Laurion Capital Management LP purchased a new stake in shares of Alector in the 1st quarter valued at $4,680,000. Morgan Stanley purchased a new stake in shares of Alector in the 1st quarter valued at $36,000. Citigroup Inc. purchased a new stake in shares of Alector in the 1st quarter valued at $28,000. Finally, Platinum Investment Management Ltd. purchased a new stake in shares of Alector in the 1st quarter valued at $2,463,000. 0.20% of the stock is owned by institutional investors.

ALEC stock traded up $0.44 during mid-day trading on Friday, hitting $20.05. The company had a trading volume of 8,281 shares, compared to its average volume of 293,303. The firm has a market cap of $1.35 billion and a price-to-earnings ratio of -4.34. Alector has a 12 month low of $15.16 and a 12 month high of $27.00.

Alector (NASDAQ:ALEC) last announced its quarterly earnings data on Monday, May 13th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.12). The business had revenue of $5.61 million for the quarter. As a group, analysts expect that Alector will post -1.4 earnings per share for the current year.

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.

Further Reading: Are all No-Load Funds Equal?

Analyst Recommendations for Alector (NASDAQ:ALEC)

Receive News & Ratings for Alector Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alector and related companies with MarketBeat.com's FREE daily email newsletter.