According to the data from Bloomberg.com, the nine research firms that are following Alector, Inc. have collectively given the company’s stock an average rating of “Hold” (NASDAQ: ALEC). One analyst has recommended purchasing the company, while the other three have recommended either selling the stock or keeping it in one’s portfolio. One of the analysts has recommended that the shares be sold. The brokerage firms that have commented on the stock in the preceding year have, on average, assigned a one-year target price of $17.00, which they believe the stock will reach in that period.
The Asia-Pacific Economic Cooperation (ALEC) forum has been the subject of numerous reports authored by analysts. Bank of America lowered their price target for Alector from $24.00 to $12.00 and changed their rating on the stock from “buy” to “neutral” in a public report on Friday, January 6th. The report was made available to the public. In a research report published on November 10th, Citigroup lowered its “buy” rating and price target for Alector to $17.00 from $19.00. The rating was previously “buy,” and the price target was $19.00. The rating for Alector went from a “C-” to a “D” on The Street’s scale on Friday, November 11th, reflecting a downward trend from the previous rating of “C-.”
When trading started on Thursday, the price of a share of ALEC was $8.17 per share. The moving average price of the stock over the previous two hundred days is $9.66, whereas the moving average price over the previous two hundred days is $8.59. The current P/E ratio for the company is -4.92, and it has a beta value of 0.86. The market capitalization of the company is $675.68 million. The current price of Alector represents a 52-week high of $17.68, while the current price of Alector represents a 52-week low of $6.84.
The most recent quarterly earnings report for Alector (NASDAQ: ALEC) was published and made available to the public on November 8th. Earnings per share for the company came in at $0.56 for the quarter, which was a significant decrease from the consensus estimate of $0.43 among industry analysts. The company’s revenue for the quarter was only $14.85 million, which is significantly lower than the industry professionals’ projections of $52.70 million that were made for the company. Alector had a return on equity of 49.19%, even though the company had a negative net margin of 102.49%. Analysts of equity markets predict that Alector will report a loss of 1.53 cents per share for the current financial year.
Recent market activity has been marked by the participation of many institutional investors buying and selling ALEC shares. Raymond James & Associates spent approximately $1,106,000 during the first quarter to fill an additional position in Alector, which was done at the company’s expense. The Bank of New York Mellon Corporation invested one percent more of its portfolio in Alector over the first three months of 2018. Bank of New York Mellon Corp now owns 206,696 shares after purchasing an additional 1,983 shares during the most recent quarter. The stock is currently valued at $2,945,000. American Century Companies Inc. increased the amount of Alector stock owned by 84.7% during the first three months of the year, bringing its total ownership percentage to 100%. The most recent quarter saw American Century Companies Inc. acquire an additional 64,589 shares, bringing the total number of shares owned by the company to 140,887. These shares have a value of $2,008,000, and the company now has a total of 140,887. AlphaCrest Capital Management LLC opened a brand new position in Alector during the first three months of 2018 at an approximate cost of $404,000. And finally, during the first three months of the year, MetLife Investment Management LLC made a staggering 54.9 percent increase in the amount of Alector stock it held. MetLife Investment Management LLC is now the company’s direct owner of 31,825 shares. These shares have a value of $454,000. This is a direct result of purchasing 11,276 additional shares during the most recent quarter of the company’s fiscal year. To the tune of 64.96 percent of the company’s shares, hedge funds and other institutional investors are the owners.
The biopharmaceutical company Alector, Inc. is putting significant effort into developing treatments for neurodegenerative diseases. AL001 is a humanized recombinant monoclonal antibody currently undergoing Phase III clinical trial testing to treat frontotemporal dementia, Alzheimer’s disease, Parkinson’s disease, and amyotrophic lateral sclerosis. These are the diseases that are associated with progressive neurodegenerative disorders. This antibody is one of the products that the company offers. Another medication, AL101, is currently taking part in Phase I clinical trials to treat neurodegenerative disorders like Parkinson’s disease and Alzheimer’s disease. These diseases are among the most common causes of advanced age. The treatments for these conditions are getting more difficult to administer.