Cowen Reiterates “Buy” Rating for Alector (NASDAQ:ALEC)

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Cowen reaffirmed their buy rating on shares of Alector (NASDAQ:ALEC) in a research note issued to investors on Wednesday, AnalystRatings.com reports.

NASDAQ ALEC opened at $18.84 on Wednesday. Alector has a 52 week low of $15.16 and a 52 week high of $27.00. 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 stock has a 50-day moving average price of $18.56.

Alector (NASDAQ:ALEC) last posted its earnings results on Monday, May 13th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.12). The business had revenue of $5.61 million for the quarter. As a group, equities analysts expect that Alector will post -1.38 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Baillie Gifford & Co. bought a new position in Alector in the 1st quarter worth about $41,000. New Leaf Venture Partners L.L.C. bought a new position in Alector in the 1st quarter worth about $14,747,000. Laurion Capital Management LP bought a new position in Alector in the 1st quarter worth about $4,680,000. Gilder Gagnon Howe & Co. LLC bought a new position in Alector in the 1st quarter worth about $4,088,000. Finally, Federated Investors Inc. PA acquired a new stake in shares of Alector in the 1st quarter worth approximately $21,965,000. Hedge funds and other institutional investors own 39.90% of the company’s stock.

Alector Company Profile

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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Analyst Recommendations for Alector (NASDAQ:ALEC)

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