Alector (NASDAQ:ALEC) Posts Earnings Results, Beats Expectations By $0.59 EPS

Alector (NASDAQ:ALECGet Rating) announced its quarterly earnings data on Thursday. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.59, Fidelity Earnings reports. Alector had a net margin of 12.06% and a return on equity of 12.03%.

Alector Stock Up 15.3 %

Shares of Alector stock opened at $13.06 on Friday. The stock has a market cap of $1.09 billion, a P/E ratio of 33.49 and a beta of 1.08. Alector has a 12-month low of $7.50 and a 12-month high of $29.30. The business’s 50 day moving average is $10.19 and its 200-day moving average is $12.15.

Analyst Ratings Changes

A number of research firms have recently commented on ALEC. The Goldman Sachs Group dropped their price objective on Alector from $9.00 to $6.00 and set a “sell” rating on the stock in a research note on Tuesday, May 24th. Citigroup decreased their price objective on Alector from $34.00 to $19.00 and set a “buy” rating on the stock in a report on Monday, July 11th. Barclays decreased their price objective on Alector from $42.00 to $14.00 in a report on Wednesday, May 11th. Finally, Mizuho assumed coverage on Alector in a report on Wednesday, July 6th. They issued a “buy” rating and a $15.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.86.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new position in Alector during the first quarter worth $25,000. Point72 Hong Kong Ltd boosted its stake in shares of Alector by 199.1% in the 1st quarter. Point72 Hong Kong Ltd now owns 9,635 shares of the company’s stock worth $137,000 after buying an additional 6,414 shares during the last quarter. Quantedge Capital Pte Ltd lifted its stake in Alector by 40.9% in the first quarter. Quantedge Capital Pte Ltd now owns 16,200 shares of the company’s stock valued at $231,000 after purchasing an additional 4,700 shares during the last quarter. AlphaCrest Capital Management LLC purchased a new stake in shares of Alector during the first quarter worth $404,000. Finally, Panagora Asset Management Inc. lifted its position in shares of Alector by 99.4% during the first quarter. Panagora Asset Management Inc. now owns 29,286 shares of the company’s stock worth $417,000 after acquiring an additional 14,599 shares in the last quarter. 66.69% of the stock is owned by institutional investors and hedge funds.

Alector Company Profile

(Get Rating)

Alector, Inc, a clinical stage biopharmaceutical company, develops therapies for the treatment of neurodegeneration diseases. Its products include AL001, a humanized recombinant monoclonal antibody, 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.

Further Reading

Earnings History 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.