In a report released today, Andrew Fein from H.C. Wainwright reiterated a Buy rating on Alector (ALEC – Research Report), with a price target of $41.00. The company’s shares closed last Friday at $13.06.
According to TipRanks, Fein is an analyst with an average return of -8.2% and a 38.72% success rate. Fein covers the Healthcare sector, focusing on stocks such as Amylyx Pharmaceuticals Inc, Vertex Pharmaceuticals, and Concert Pharma.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Alector with a $19.00 average price target.
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Based on Alector’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $24.47 million and a GAAP net loss of $44.62 million. In comparison, last year the company earned revenue of $4.11 million and had a GAAP net loss of $52.17 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.
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