Stifel downgraded Alector (ALEC) to Hold from Buy with a $4 price target The failure of Alector’s TREM2 asset, AL002, in a Phase 2 Alzheimer’s study was “a major setback” and the stock is down about 70% year-to-date, the analyst tells investors. Examining the key questions heading into 2025 – namely if latozinemab has a “credible shot” in the FTD-GRN Phase 3 due late-2025/early-2026 and how “real” is their early-stage BBB platform – the analyst contends that “both are challenging to have true conviction in.”
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