H.C. Wainwright analyst Andrew Fein raised the firm’s price target on Alector (ALEC) to $10 from $7 and keeps a Buy rating on the shares. The INFRONT 3 topline data remains the important catalyst for this year, the analyst tells investors in a research note. The firm says AL101’s “differentiated” pharmacokinetics and pharmacodynamics make it well-suited for larger indications like Alzheimer’s disease. The 12-month INFRONT-2 trial results in symptomatic GRN-related frontotemporal lobar degeneration patients treated every four weeks indicated that AL001 may restore progranulin levels to normal ranges, contends H.C. Wainwright.
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Read More on ALEC:
- Alector’s Growth Potential Highlighted by Strong Financials and Promising Trial Developments
- Alector’s Clinical Progress and Financial Stability Drive Buy Rating
- Alector reports Q1 EPS (41c), consensus (46c)
- Alector completes enrollment in PROGRESS-AD Phase 2 trial of AL01
- Alector Announces Resignation of Chief Medical Officer
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