Alector Inc. (ALEC) PT Raised to $32 at Stifel
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Stifel analyst Paul Mattels raised the price target on Alector Inc. (NASDAQ: ALEC) to $32.00 (from $30.00) while maintaining a Buy rating.
The analyst commented, "We're reiterating our Buy Rating and updating our model after a 2Q21 update from ALEC which was punctuated by highlights from their recent GSK deal as well as data for AL001 at AAIC. We have discussed both the GSK deal (LINK) as well as the AAIC data extensively (LINK, LINK). Bottom line: taken together, we think that these developments are generally good for ALEC, especially considering that the GSK partnership puts them in a strong cash position with the ability to explore additional indications for AL001/AL101 (we model ~$1B in pro-forma cash after the deal)."
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