Cowen Reaffirms “Buy” Rating for Alector (NASDAQ:ALEC)

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Alector (NASDAQ:ALEC)‘s stock had its “buy” rating reaffirmed by stock analysts at Cowen in a research note issued to investors on Sunday, AnalystRatings.com reports.

Other analysts also recently issued research reports about the company. ValuEngine downgraded Alector from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Zacks Investment Research upgraded Alector from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Finally, BTIG Research assumed coverage on Alector in a research report on Wednesday, November 27th. They set a “buy” rating and a $28.00 price target for the company. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $27.00.

Alector stock traded up $0.37 during mid-day trading on Friday, reaching $19.76. The company’s stock had a trading volume of 446,833 shares, compared to its average volume of 418,074. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.56 and a current ratio of 6.57. Alector has a 12 month low of $13.64 and a 12 month high of $27.00. The business’s 50 day simple moving average is $16.75 and its 200 day simple moving average is $17.53. The company has a market capitalization of $1.34 billion and a price-to-earnings ratio of -4.28.

Alector (NASDAQ:ALEC) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.07). Alector had a negative return on equity of 58.27% and a negative net margin of 378.57%. The business had revenue of $2.70 million for the quarter. As a group, sell-side analysts expect that Alector will post -1.63 EPS for the current year.

In related news, VP Calvin Yu sold 1,315 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $19.39, for a total value of $25,497.85. Also, insider Robert Paul sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $15.01, for a total transaction of $150,100.00. Over the last 90 days, insiders have sold 32,815 shares of company stock worth $562,348. 34.40% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. Metropolitan Life Insurance Co NY acquired a new position in Alector during the third quarter worth approximately $150,000. California Public Employees Retirement System acquired a new stake in shares of Alector in the third quarter valued at approximately $157,000. Voya Investment Management LLC acquired a new stake in shares of Alector in the third quarter valued at approximately $165,000. Virtus ETF Advisers LLC acquired a new stake in shares of Alector in the second quarter valued at approximately $251,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Alector by 89.2% during the 2nd quarter. Wells Fargo & Company MN now owns 13,650 shares of the company’s stock worth $259,000 after acquiring an additional 6,434 shares during the period. Institutional investors and hedge funds own 49.75% of the company’s stock.

About Alector

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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