Alector (NASDAQ:ALEC) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

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Alector (NASDAQ:ALEC) released its quarterly earnings results on Monday. The company reported ($0.36) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.03), Bloomberg Earnings reports. The company had revenue of $6.92 million for the quarter.

ALEC opened at $17.80 on Wednesday. The company’s fifty day moving average price is $19.13. The firm has a market cap of $1.25 billion and a price-to-earnings ratio of -3.85. Alector has a twelve month low of $15.16 and a twelve month high of $27.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.92 and a current ratio of 7.92.

In related news, major shareholder Orbimed Advisors Llc sold 650,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $17.90, for a total transaction of $11,635,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 34.40% of the stock is currently owned by company insiders.

Separately, Cowen reaffirmed a “buy” rating on shares of Alector in a report on Wednesday, July 17th. Six research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and an average price target of $26.67.

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.

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