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Alector price target lowered to $16 from $54 at BTIG
The Fly

Alector price target lowered to $16 from $54 at BTIG

BTIG analyst Thomas Shrader lowered the firm’s price target on Alector to $16 from $54 but keeps a Buy rating on the shares after its Q4 results. The company’s operating expenditure was higher than estimated, the analyst tells investors in a research note, also noting that its timelines for the frontotemporal dementia, or FTD, programs has been pushed out by 1-3 years after Alector’s update. The firm remains positive on the stock however while noting that Alector is well-positioned for "meaningful inflection points" in the near term given the "rationally selected targets" and several data readouts within the next year.

Published first on TheFly

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