William Blair analyst Myles Minter has maintained their bullish stance on ALEC stock, giving a Buy rating on July 28.
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Myles Minter has given his Buy rating due to a combination of factors that highlight Alector’s promising future prospects. One of the key reasons is the recent amendment to the INFRONT-3 trial’s statistical analysis plan, which includes plasma progranulin as a co-primary endpoint. This change, requested by the FDA, does not compromise the trial’s power to detect a significant slowing of functional decline, and the study is highly powered to meet this new endpoint. The confidence in achieving this is bolstered by previous data from the INFRONT-2 trial, which showed normalization of plasma and CSF progranulin levels.
Minter also points to the ongoing Phase II PROGRESS-AD trial of AL101 in early Alzheimer’s disease, which is expected to complete in 2026. This trial, conducted in collaboration with GSK, aims to determine if increasing progranulin levels can provide functional benefits to Alzheimer’s patients. The upcoming results from the INFRONT-3 trial, anticipated in the mid-fourth quarter of 2025, are seen as a significant catalyst for Alector’s stock, especially following the disappointing results from the INVOKE-2 trial. These strategic developments and trials position Alector favorably in the market, justifying the Buy rating.
In another report released on July 28, Mizuho Securities also upgraded the stock to a Buy with a $3.50 price target.