Alector (ALEC) Releases Quarterly Earnings Results, Misses Expectations By $0.12 EPS

Alector (NASDAQ:ALEC) posted its quarterly earnings results on Monday. The company reported ($0.42) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.12), Fidelity Earnings reports. The firm had revenue of $5.61 million for the quarter.

ALEC stock traded up $1.26 during trading on Tuesday, hitting $21.08. 72,122 shares of the company’s stock traded hands, compared to its average volume of 305,151. The firm has a market cap of $1.37 billion and a price-to-earnings ratio of -4.56. Alector has a 1 year low of $15.16 and a 1 year high of $27.00.

Several research firms have recently weighed in on ALEC. Cowen reaffirmed a “buy” rating on shares of Alector in a research note on Monday. Leerink Swann began coverage on shares of Alector in a research note on Monday, March 4th. They set an “outperform” rating for the company. Morgan Stanley began coverage on shares of Alector in a research note on Monday, March 4th. They set an “overweight” rating and a $27.00 price target for the company. Barclays began coverage on shares of Alector in a research note on Monday, March 4th. They set an “overweight” rating and a $27.00 price target for the company. Finally, Bank of America began coverage on shares of Alector in a research note on Monday, March 4th. They set a “buy” rating and a $26.00 price target for the company. Six analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus price target of $26.67.



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About Alector

Alector, Inc, a clinical stage biotechnology company, focuses on developing therapies that harness the immune system to cure neurodegenerative diseases. Its products in Phase I clinical trial include AL001, a humanized recombinant monoclonal antibody for the treatment of frontotemporal dementia; and AL002 for the treatment of Alzheimer's disease.

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