Alector price target raised to $10 from $7 at H.C. Wainwright

H.C. Wainwright analyst Andrew Fein raised the firm’s price target on Alector (ALEC) to $10 from $7 and keeps a Buy rating on the shares. The INFRONT 3 topline data remains the important catalyst for this year, the analyst tells investors in a research note. The firm says AL101’s “differentiated” pharmacokinetics and pharmacodynamics make it well-suited for larger indications like Alzheimer’s disease. The 12-month INFRONT-2 trial results in symptomatic GRN-related frontotemporal lobar degeneration patients treated every four weeks indicated that AL001 may restore progranulin levels to normal ranges, contends H.C. Wainwright.