BTIG analyst Thomas Shrader upgraded Alector (ALEC) to Buy from Neutral with a $6 price target The upgrade reflects the company’s shift in focus to the development of novel therapeutics equipped with BBB-shuttle domains, the analyst tells investors in a research note. The firm believes the shift removes uncertainty after the frontotemporal dementia trial failure. Alector going forward will become a “major player “in the neurodegeneration space with expertise in both protein engineering and the molecular mechanisms of neurodegeneration, contends BTIG.
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