Alector (NASDAQ:ALEC) Price Target Raised to $10.00

Alector (NASDAQ:ALEC) had its price target increased by equities researchers at HC Wainwright from $7.00 to $10.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

Separately, Morgan Stanley reaffirmed an “underweight” rating and set a $1.50 price target (down from $3.00) on shares of Alector in a report on Friday, March 7th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $4.00.

Alector Price Performance

Shares of ALEC opened at $1.18 on Friday. Alector has a 12 month low of $0.87 and a 12 month high of $6.78. The stock’s 50-day moving average is $1.19 and its two-hundred day moving average is $2.10. The stock has a market cap of $117.49 million, a PE ratio of -0.69 and a beta of 0.76.

Alector (NASDAQ:ALEC) last released its quarterly 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 firm had revenue of $54.24 million during the quarter, compared to analysts’ expectations of $20.41 million. On average, research analysts anticipate that Alector will post -1.88 earnings per share for the current year.

Institutional Trading of Alector

A number of hedge funds and other institutional investors have recently made changes to their positions in ALEC. Barclays PLC grew its holdings in Alector by 132.4% during the 3rd quarter. Barclays PLC now owns 176,800 shares of the company’s stock worth $824,000 after acquiring an additional 100,731 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Alector by 64.7% during the third quarter. JPMorgan Chase & Co. now owns 2,728,823 shares of the company’s stock worth $12,716,000 after purchasing an additional 1,072,298 shares during the last quarter. Nordea Investment Management AB grew its stake in Alector by 5.1% in the fourth quarter. Nordea Investment Management AB now owns 165,713 shares of the company’s stock worth $295,000 after purchasing an additional 7,971 shares in the last quarter. SG Americas Securities LLC increased its holdings in Alector by 27.9% in the fourth quarter. SG Americas Securities LLC now owns 39,334 shares of the company’s stock valued at $74,000 after buying an additional 8,581 shares during the last quarter. Finally, Apollon Wealth Management LLC bought a new stake in Alector in the fourth quarter valued at about $47,000. Institutional investors own 85.83% of the company’s stock.

About Alector

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.