Alector downgraded to Neutral from Outperform at Mizuho

Mizuho downgraded Alector (ALEC) to Neutral from Outperform with a price target of $1.50, down from $3.50. The firm cites the negative Pahe 3 data for latozinemab for the downgrade. Alector has other pipeline candidates in development, but there is high risk associated with developing therapeutics for Alzheimer’s disease, the analyst tells investors in a research note.