Alector downgraded to Neutral from Outperform at Mizuho

Mizuho analyst Graig Suvannavejh downgraded Alector (ALEC) to Neutral from Outperform with a price target of $2.50, down from $9. Following the negative Phase 2 INVOKE-2 results for AL002, the firm removed AL002 and the AbbVie (ABBV) collaboration from the model. With the next major stock catalyst not expected until the end of 2025 or Q1 of 2026, “poor visibility on news flow that could move the shares materially higher suggests a limited opportunity for stock outperformance,” the analyst tells investors in a research note.