Alector price target lowered to $5 from $10 at H.C. Wainwright

H.C. Wainwright lowered the firm’s price target on Alector (ALEC) to $5 from $10 and keeps a Buy rating on the shares. The firm removed AL001 from the stock’s valuation following the INFRONT-3 data miss. However, it believes Alector’s AL137, AL050, and ADP064-ABC offer “diversified, large market optionality, creating multiple potential paths to upside.”