Alector’s (ALEC) Buy Rating Reaffirmed at Cowen

Alector (NASDAQ:ALEC)‘s stock had its “buy” rating restated by research analysts at Cowen in a note issued to investors on Wednesday, AnalystRatings.com reports.

Shares of NASDAQ ALEC traded down $0.81 during midday trading on Wednesday, reaching $18.23. 151,200 shares of the stock traded hands, compared to its average volume of 232,795. The company has a quick ratio of 7.92, a current ratio of 7.92 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.31 billion and a PE ratio of -3.95. Alector has a one year low of $15.16 and a one year high of $27.00. The stock has a 50 day moving average of $18.52.

Alector (NASDAQ:ALEC) last posted its earnings results on Monday, May 13th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.12). The firm had revenue of $5.61 million during the quarter. On average, equities research analysts forecast that Alector will post -1.38 earnings per share for the current fiscal year.



Several hedge funds and other institutional investors have recently bought and sold shares of the company. Baillie Gifford & Co. purchased a new position in shares of Alector in the first quarter worth about $41,000. Dean Capital Investments Management LLC purchased a new position in Alector during the first quarter valued at approximately $624,000. Laurion Capital Management LP purchased a new position in Alector during the first quarter valued at approximately $4,680,000. Federated Investors Inc. PA purchased a new position in Alector during the first quarter valued at approximately $21,965,000. Finally, New Leaf Venture Partners L.L.C. purchased a new position in Alector during the first quarter valued at approximately $14,747,000. Hedge funds and other institutional investors own 39.90% of the company’s stock.

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.

See Also: What causes a recession?

Analyst Recommendations 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.