Alector (NASDAQ:ALEC) Posts Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Alector (NASDAQ:ALEC) issued its earnings results on Wednesday. The company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09, Zacks reports. The firm had revenue of $15.08 million for the quarter, compared to analysts’ expectations of $16.04 million. Alector had a negative return on equity of 71.80% and a negative net margin of 125.11%. During the same quarter last year, the firm earned $0.02 earnings per share.

Alector Price Performance

Alector stock traded up $0.19 during midday trading on Thursday, hitting $5.10. 486,269 shares of the stock were exchanged, compared to its average volume of 662,538. The company has a 50 day moving average price of $5.08 and a two-hundred day moving average price of $5.61. The firm has a market cap of $491.56 million, a P/E ratio of -3.70 and a beta of 0.72. Alector has a 1 year low of $3.66 and a 1 year high of $8.90.

Insider Buying and Selling

In other news, CEO Arnon Rosenthal sold 25,135 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $4.80, for a total transaction of $120,648.00. Following the completion of the sale, the chief executive officer now owns 1,975,245 shares of the company’s stock, valued at $9,481,176. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Alector news, insider Gary Romano sold 8,040 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $4.80, for a total transaction of $38,592.00. Following the transaction, the insider now owns 188,273 shares of the company’s stock, valued at approximately $903,710.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Arnon Rosenthal sold 25,135 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $4.80, for a total value of $120,648.00. Following the completion of the sale, the chief executive officer now owns 1,975,245 shares of the company’s stock, valued at $9,481,176. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,095 shares of company stock worth $192,456. 9.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on ALEC. HC Wainwright reaffirmed a “buy” rating and set a $35.00 price target on shares of Alector in a research report on Thursday, June 20th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Alector in a report on Monday, July 29th. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $14.67.

About Alector

Alector, Inc, a clinical stage biopharmaceutical company, develops therapies for the treatment of neurodegeneration diseases. Its products include AL001, an immune activity in the brain with genetic links to multiple neurodegenerative disorders, which is in Phase III clinical trial for the treatment of frontotemporal dementia, Alzheimer's, Parkinson's, and amyotrophic lateral sclerosis diseases; and AL101 that is in Phase I clinical trial for the treatment of neurodegenerative diseases, including Alzheimer's and Parkinson's diseases.