Alector, Inc. (ALEC, Financial) has reached a significant milestone with the completion of participant enrollment in its PROGRESS-AD clinical trial. This Phase 2 study, which spans 76 weeks, is focused on assessing the safety and potential effectiveness of the drug candidate AL101, also known as GSK4527226, in curbing the progression of early Alzheimer's disease.
The development of AL101 is a collaborative effort between Alector and GSK. This investigational therapy is a human monoclonal antibody targeting the sortilin receptor, with the goal of increasing levels of progranulin (PGRN) in the brain. Research has linked decreased PGRN levels, often caused by genetic mutations in GRN, with a higher susceptibility to Alzheimer's disease. In contrast, studies using animal models indicate that higher levels of PGRN may offer a protective effect against the disease.
The advancement of the PROGRESS-AD trial marks a crucial step in potentially offering a new therapeutic avenue for those affected by early Alzheimer's, a condition for which treatment options are currently limited.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 6 analysts, the average target price for Alector Inc (ALEC, Financial) is $4.58 with a high estimate of $9.00 and a low estimate of $1.00. The average target implies an upside of 368.50% from the current price of $0.98. More detailed estimate data can be found on the Alector Inc (ALEC) Forecast page.
Based on the consensus recommendation from 9 brokerage firms, Alector Inc's (ALEC, Financial) average brokerage recommendation is currently 2.3, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Alector Inc (ALEC, Financial) in one year is $3.88, suggesting a upside of 296.61% from the current price of $0.9783. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Alector Inc (ALEC) Summary page.
