H.C. Wainwright analyst Andrew Fein reiterated a Buy rating on Alector (ALEC) today and set a price target of $41.00. The company’s shares closed last Tuesday at $12.30, close to its 52-week low of $9.12.
According to TipRanks.com, Fein is a 4-star analyst with an average return of 4.9% and a 44.6% success rate. Fein covers the Healthcare sector, focusing on stocks such as Deciphera Pharmaceuticals, Phasebio Pharmaceuticals, and Zentalis Pharmaceuticals.
Currently, the analyst consensus on Alector is a Moderate Buy with an average price target of $41.00.
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Based on Alector’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $3.17 million and GAAP net loss of $45.33 million. In comparison, last year the company earned revenue of $6.92 million and had a GAAP net loss of $24.56 million.
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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.