Alector (NASDAQ:ALEC) Announces Quarterly Earnings Results, Beats Expectations By $1.34 EPS

Alector (NASDAQ:ALEC) announced its quarterly earnings data on Thursday. The company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $1.34, FiscalAI reports. Alector had a negative return on equity of 531.03% and a negative net margin of 850.13%. The firm had revenue of $162.87 million for the quarter, compared to analysts’ expectations of $2.19 million.

Alector Trading Up 9.6%

NASDAQ ALEC opened at $2.29 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 5.26 and a quick ratio of 5.26. Alector has a one year low of $1.09 and a one year high of $2.76. The business has a 50 day simple moving average of $2.06 and a 200 day simple moving average of $2.03. The stock has a market capitalization of $255.70 million, a P/E ratio of 6.54 and a beta of 0.61.

Analysts Set New Price Targets

A number of brokerages recently commented on ALEC. Morgan Stanley boosted their price objective on shares of Alector from $2.00 to $3.00 and gave the company an “underweight” rating in a research report on Tuesday, October 6th. Weiss Ratings raised shares of Alector from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 13th. Wall Street Zen raised shares of Alector from a “hold” rating to a “buy” rating in a report on Saturday. UBS Group restated a “neutral” rating and issued a $1.50 target price on shares of Alector in a research note on Tuesday, October 6th. Finally, HC Wainwright assumed coverage on Alector in a research note on Friday. They issued a “strong-buy” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Alector currently has a consensus rating of “Hold” and an average price target of $4.62.

Insider Buying and Selling at Alector

In other Alector news, CEO Arnon Rosenthal sold 72,606 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $2.66, for a total transaction of $193,131.96. Following the transaction, the chief executive officer owned 2,294,600 shares in the company, valued at approximately $6,103,636. This represents a 3.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Neil Berkley sold 29,251 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $2.66, for a total value of $77,807.66. Following the completion of the transaction, the chief financial officer directly owned 350,649 shares in the company, valued at approximately $932,726.34. This represents a 7.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 111,303 shares of company stock worth $295,633. Corporate insiders own 8.30% of the company’s stock.

About Alector

Alector, Inc (NASDAQ: ALEC) is a clinical-stage biotechnology company focused on developing therapies for neurodegenerative diseases. The company’s research platform, known as immuno-neurology, is designed to use the body’s immune system to protect or restore the brain’s ability to maintain healthy neural connections.

Alector’s investigational pipeline has included antibody-based treatments for conditions such as frontotemporal dementia and Alzheimer’s disease. Its programs have targeted biological pathways associated with neurodegeneration, including progranulin and TREM2.