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Alector assumed with an Underweight at Morgan Stanley

Morgan Stanley analyst Sean Laaman assumed coverage of Alector (ALEC) with an Underweight rating and a price target of $1.50, down from $3. The firm sees no meaningful catalyst until Q4 of 2025, at which time Alector may have less than one year of cash on the balance sheet, the analyst tells investors. The firm views the latozinemab program as de-risked, but sees challenges translating results with latozinemab in FTD-GRN to AL101 in Alzheimer’s disease, the analyst added.

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