Alector (NASDAQ:ALEC) Releases Quarterly Earnings Results, Beats Estimates By $0.59 EPS

Alector (NASDAQ:ALEC – Get Rating) posted its quarterly earnings data on Thursday. The company reported $0.12 EPS for the quarter, topping the consensus estimate of ($0.47) by $0.59, Fidelity Earnings reports. Alector had a return on equity of 12.03% and a net margin of 12.06%.

Alector Stock Performance

Shares of ALEC stock opened at $13.06 on Friday. Alector has a 52-week low of $7.50 and a 52-week high of $29.30. The firm has a market capitalization of $1.09 billion, a PE ratio of 33.49 and a beta of 1.08. The stock has a fifty day simple moving average of $10.19 and a two-hundred day simple moving average of $12.15.

Institutional Investors Weigh In On Alector

A number of institutional investors have recently bought and sold shares of the business. Point72 Hong Kong Ltd grew its position in shares of Alector by 199.1% during the first quarter. Point72 Hong Kong Ltd now owns 9,635 shares of the company’s stock valued at $137,000 after purchasing an additional 6,414 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Alector during the first quarter valued at about $25,000. State Street Corp grew its position in shares of Alector by 25.2% during the first quarter. State Street Corp now owns 3,836,093 shares of the company’s stock valued at $54,664,000 after purchasing an additional 772,398 shares in the last quarter. Engineers Gate Manager LP purchased a new position in shares of Alector during the first quarter valued at about $504,000. Finally, Invesco Ltd. grew its position in shares of Alector by 88.8% during the first quarter. Invesco Ltd. now owns 50,877 shares of the company’s stock valued at $726,000 after purchasing an additional 23,934 shares in the last quarter. Hedge funds and other institutional investors own 66.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ALEC shares. The Goldman Sachs Group reduced their price objective on Alector from $9.00 to $6.00 and set a “sell” rating for the company in a research note on Tuesday, May 24th. Citigroup reduced their price objective on Alector from $34.00 to $19.00 and set a “buy” rating for the company in a research note on Monday, July 11th. Barclays reduced their price objective on Alector from $42.00 to $14.00 in a research note on Wednesday, May 11th. Finally, Mizuho started coverage on Alector in a research note on Wednesday, July 6th. They issued a “buy” rating and a $15.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.86.

Alector Company Profile

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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.