Alector (NASDAQ:ALEC) Upgraded at Wall Street Zen

Key Points

• Alector (NASDAQ: ALEC) has been upgraded by Wall Street Zen from a "sell" rating to a "hold" rating, reflecting a more favorable outlook for the company's stock.
• HC Wainwright raised Alector's price target from $7.00 to $10.00, while Mizuho upgraded their rating from "neutral" to "outperform," indicating increased confidence among analysts.
• The company reported better-than-expected quarterly results with earnings per share of ($0.30), surpassing the consensus estimate by $0.15, and revenue of $7.87 million, exceeding expectations significantly.

Wall Street Zen upgraded shares of Alector (NASDAQ:ALEC - Free Report) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

Other equities analysts also recently issued research reports about the company. Mizuho upgraded Alector from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $2.50 to $3.50 in a research note on Monday, July 28th. HC Wainwright boosted their target price on Alector from $7.00 to $10.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $4.17.

Alector Stock Performance

Shares of NASDAQ ALEC traded up $0.04 during midday trading on Friday, reaching $2.20. The company's stock had a trading volume of 1,290,107 shares, compared to its average volume of 1,522,159. Alector has a 12-month low of $0.87 and a 12-month high of $6.37. The firm has a 50 day moving average price of $1.67 and a 200-day moving average price of $1.46. The stock has a market capitalization of $222.66 million, a P/E ratio of -1.90 and a beta of 0.86. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.78 and a quick ratio of 3.78.

Alector (NASDAQ:ALEC - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.30) earnings per share for the quarter, topping analysts' consensus estimates of ($0.45) by $0.15. Alector had a negative return on equity of 112.06% and a negative net margin of 142.10%.The firm had revenue of $7.87 million for the quarter, compared to the consensus estimate of $2.76 million. Alector has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Alector will post -1.88 earnings per share for the current year.

Hedge Funds Weigh In On Alector

Several institutional investors have recently bought and sold shares of ALEC. RA Capital Management L.P. bought a new stake in Alector during the 4th quarter valued at $18,324,000. Acadian Asset Management LLC raised its holdings in Alector by 50.7% during the 2nd quarter. Acadian Asset Management LLC now owns 2,170,388 shares of the company's stock valued at $3,033,000 after acquiring an additional 729,727 shares during the period. Geode Capital Management LLC raised its holdings in Alector by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,982,068 shares of the company's stock valued at $2,775,000 after acquiring an additional 19,970 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in Alector by 25.9% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,334,032 shares of the company's stock valued at $1,641,000 after acquiring an additional 274,341 shares during the period. Finally, Deerfield Management Company L.P. Series C raised its holdings in Alector by 1.1% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 1,066,962 shares of the company's stock valued at $2,017,000 after acquiring an additional 11,770 shares during the period. Hedge funds and other 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.