Cowen & Co. Sticks to Their Buy Rating for Alector (ALEC)
In a report released today, Yaron Werber from Cowen & Co. maintained a Buy rating on Alector (ALEC). The company’s shares closed last Monday at $24.40.
According to TipRanks.com, Werber is a 5-star analyst with an average return of 5.6% and a 51.9% success rate. Werber covers the Healthcare sector, focusing on stocks such as Ultragenyx Pharmaceutical, Springworks Therapeutics, and Orchard Therapeutics.
Alector has an analyst consensus of Strong Buy, with a price target consensus of $42.00.
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Based on Alector’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $2.7 million and GAAP net loss of $31.74 million. In comparison, last year the company earned revenue of $6.5 million and had a GAAP net loss of $15.32 million.
Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ALEC in relation to earlier this year.
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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. The company was founded by Asa Abeliovich, Errik B. Anderson, Tillman U. Gerngross, and Arnon Rosenthal in May 2013 and is headquartered in South San Francisco, CA.