In a report released today, Matthew Harrison from Morgan Stanley initiated coverage with a Buy rating on Alector Inc (ALEC) and a price target of $27. The company’s shares closed on Friday at $21.
According to TipRanks.com, Harrison is a 5-star analyst with an average return of 12.7% and a 66.1% success rate. Harrison covers the Healthcare sector, focusing on stocks such as DBV Technologies SA – American, Global Blood Therapeutics, and Alexion Pharmaceuticals.
Currently, the analyst consensus on Alector Inc is a Strong Buy with an average price target of $27, a 28.6% upside from current levels. In a report released today, Merrill Lynch also initiated coverage with a Buy rating on the stock.
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The company has a one-year high of $23.84 and a one-year low of $15.55. Currently, Alector Inc has an average volume of 655.5K.
Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ALEC in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Alector, Inc. operates as a clinical-stage biopharmaceutical company. It develops therapeutics for the treatment of neurodegenerative diseases including frontotemporal dementia (FTD), Alzheimer’s disease, and Parkinson’s disease.
