ALECTOR Reports Third Quarter 2023 Earnings Results for Fiscal Year 2023
November 20, 2023
🌥️Earnings Overview
ALECTOR ($NASDAQ:ALEC)’s earnings results for the third quarter of the fiscal year 2023, ending on September 30 2023, were reported on that date. Total revenue for the quarter was USD 9.1 million, a 38.7% decrease compared to the same period in the prior year. Net income for the quarter was USD -44.5 million, a decrease of -1.7 million year-on-year.
Share Price
The stock opened at $5.5 and closed at $5.8, a rise of 5.1% from the last closing price of $5.5. This is a key indicator of the company’s strong performance this quarter and bodes well for future growth. ALECTOR also reported that revenue was up by 10% compared to the previous quarter, which is further evidence of the company’s success in the past three months. In addition to earnings, ALECTOR also announced plans to invest in new technologies and initiatives to further their growth.
These investments are expected to help the company increase revenues further and build on their success in the coming quarters. Overall, ALECTOR’s third quarter 2023 earnings results indicate a strong performance for the company this quarter and a promising outlook for future growth. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Alector. ALECTOR_Reports_Third_Quarter_2023_Earnings_Results_for_Fiscal_Year_2023″>More…
| Total Revenues | Net Income | Net Margin |
| 96.31 | -141.38 | -146.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Alector. ALECTOR_Reports_Third_Quarter_2023_Earnings_Results_for_Fiscal_Year_2023″>More…
| Operations | Investing | Financing |
| -187.02 | 102.23 | 2.6 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Alector. ALECTOR_Reports_Third_Quarter_2023_Earnings_Results_for_Fiscal_Year_2023″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 672.39 | 509.84 | 1.93 |
Key Ratios Snapshot
Some of the financial key ratios for Alector are shown below. ALECTOR_Reports_Third_Quarter_2023_Earnings_Results_for_Fiscal_Year_2023″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 63.0% | – | -165.8% |
| FCF Margin | ROE | ROA |
| -197.2% | -55.6% | -14.8% |
Analysis
GoodWhale has analyzed ALECTOR‘s financials to get a detailed overview of the company. Our star chart shows that ALECTOR is strong in asset, growth, medium in profitability and weak in dividend. Additionally, its intermediate health score of 5/10 suggests that the company is likely to sustain future operations in times of crisis. We have classified ALECTOR as a ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. This means that ALECTOR may be of interest to investors looking for steady returns with a moderate level of growth. For those who are looking for higher returns and greater risks, ALECTOR may not be the ideal investment. More…
Peers
The competition among Alector Inc, Trevi Therapeutics Inc, Allakos Inc, and Axsome Therapeutics Inc is fierce. All four companies are vying for a piece of the pie in the rapidly growing field of biotechnology. Alector Inc is a leading player in the space, with a strong portfolio of products and a proven track record of success. Its competitors are all looking to make a name for themselves in the industry, and each has its own unique strengths and weaknesses. Ultimately, only time will tell who will come out on top in this highly competitive market.
– Trevi Therapeutics Inc ($NASDAQ:TRVI)
Trevi Therapeutics Inc is a clinical-stage biopharmaceutical company, which focuses on the development and commercialization of nalbuphine ER to treat serious neurological and psychiatric disorders. The company’s product candidates include Nalbuphine ER for the treatment of pruritus, and Nalbuphine ER for the treatment of major depressive disorder. It has a market cap of 104.4M as of 2022 and a return on equity of -52.73%.
– Allakos Inc ($NASDAQ:ALLK)
Allakos Inc is a publicly traded biopharmaceutical company focused on developing and commercializing therapeutic antibodies for the treatment of allergic, inflammatory, and proliferative diseases. The company’s market cap is $502.43 million as of 2022, and its return on equity is 15.96%. Allakos was founded in 2006 by Jonathan Drachman, a medical doctor and entrepreneur. Drachman serves as the company’s CEO.
– Axsome Therapeutics Inc ($NASDAQ:AXSM)
Axsome Therapeutics Inc is a clinical-stage biopharmaceutical company engaged in developing novel therapies for the management of central nervous system disorders. The company’s lead product candidate, AXS-05, is in Phase III clinical development for the treatment of Alzheimer’s disease agitation.
Summary
Investing in ALECTOR has been a difficult decision recently, as its earnings results for the third quarter of 2023 have not been encouraging. Total revenue decreased by 38.7% compared to the same period in the previous year, and the net income decreased by -1.7 million. Despite this, the stock price moved up the same day, indicating that investors still have some faith in the company. Therefore, investors should do their own research and consider all available information before making a decision.
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