Alector's Stock Narrative Shifts After INFRONT-3 Trial Disappointment

Alector's stock narrative has shifted after its INFRONT-3 trial disappointing results. Analysts reassess valuation and outlook, with a fair value target of $2.20 per share but a rising discount rate and lower revenue growth projections. Analysts have provided mixed perspectives on the company's valuation, execution, and outlook, with some acknowledging a diversified pipeline and cost control initiatives, while others highlight the high risk of developing Alzheimer's disease therapeutics and the lack of near-term catalysts.