William Blair analyst Myles Minter has reiterated their neutral stance on ALEC stock, giving a Hold rating yesterday.
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Myles Minter has given his Hold rating due to a combination of factors surrounding Alector’s current strategic position and future prospects. The company’s recent restructuring, following the unsuccessful INFRONT-3 trial for latozinemab, has shifted its focus towards the Alector Brain Carrier (ABC) platform. This restructuring has extended Alector’s cash runway through 2027, allowing it to advance two assets from this platform into the clinic. However, the competitive profile of these developments remains uncertain until clinical data becomes available.
Minter also notes potential upside from the interim analysis of the Phase II PROGRESS-AD study of nivisnebart in early Alzheimer’s disease, expected in the first half of 2026. Despite this, previous challenges with progranulin boosting therapies suggest that investors may remain cautious until there is clinical proof of concept. The collaboration with GSK on nivisnebart, under a profit-sharing agreement, adds a layer of complexity and potential, but the overall outlook remains cautious, justifying the Hold rating.
Minter covers the Healthcare sector, focusing on stocks such as Ionis Pharmaceuticals, Biogen, and Moderna. According to TipRanks, Minter has an average return of 29.1% and a 59.85% success rate on recommended stocks.