Alector Inc reports results for the quarter ended in June - Earnings Summary

Alector

08/08/2024 02:18

* Alector Inc  ALEC.OQ  reported a quarterly adjusted loss
of 40
cents​​ per share for the quarter ended in June, lower than the
same quarter last year, when the company reported EPS of 2
cents.  The mean expectation of ten analysts for the quarter was
for a loss of 50 cents per share. Wall Street expected
results to range from -60 cents to -44 cents per share.
    * Revenue fell 73.2% to $15.08 million from a year ago;
analysts
expected $14.40 million. 
    * Alector Inc's reported EPS for the quarter was a loss
of 40
cents​.
    * The company reported a quarterly loss of $38.68 million.
    * Alector Inc shares had risen by 11.5% this quarter and
lost 36.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 5.1%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 8 "strong buy" or "buy," 2
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the biotechnology
&
medical research peer group is also "buy"

Wall Street's median 12-month price target for Alector Inc is
$11.00 
This summary was machine generated from LSEG data August 8 at
01:18 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      -0.50          -0.40          Beat
 Mar. 31 2024      -0.51          -0.38          Beat
 Dec. 31 2023      -0.77          -0.49          Beat
 Sep. 30 2023      -0.66          -0.53          Beat