Maplight Therapeutics (NASDAQ:MPLT) Hits New 52-Week High – What’s Next?

Maplight Therapeutics, Inc. (NASDAQ:MPLT)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $37.31 and last traded at $37.27, with a volume of 39655 shares. The stock had previously closed at $36.08.

Wall Street Analysts Forecast Growth

MPLT has been the topic of a number of research analyst reports. HC Wainwright reissued a “buy” rating on shares of Maplight Therapeutics in a research report on Monday, June 22nd. Lifesci Capital upgraded shares of Maplight Therapeutics to a “strong-buy” rating in a research note on Thursday, May 14th. Benchmark restated a “buy” rating on shares of Maplight Therapeutics in a research note on Monday, June 22nd. Wall Street Zen cut shares of Maplight Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Finally, UBS Group began coverage on Maplight Therapeutics in a report on Tuesday, May 26th. They set a “buy” rating and a $48.00 price target on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $38.80.

Maplight Therapeutics Stock Up 1.7%

The firm has a market cap of $1.56 billion and a PE ratio of -0.89. The company’s fifty day moving average price is $29.62 and its two-hundred day moving average price is $22.87.

Maplight Therapeutics (NASDAQ:MPLT) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($1.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.43). As a group, analysts predict that Maplight Therapeutics, Inc. will post -5.13 earnings per share for the current year.

Insider Buying and Selling at Maplight Therapeutics

In related news, insider Anatol Kreitzer sold 45,422 shares of the firm’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $29.66, for a total value of $1,347,216.52. Following the completion of the sale, the insider owned 211,190 shares in the company, valued at $6,263,895.40. This trade represents a 17.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James Woodruff Lillie sold 24,811 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $28.76, for a total transaction of $713,564.36. Following the sale, the insider directly owned 243,450 shares in the company, valued at approximately $7,001,622. This represents a 9.25% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 495,244 shares of company stock worth $14,079,461. 3.80% of the stock is currently owned by company insiders.

Institutional Trading of Maplight Therapeutics

Hedge funds have recently bought and sold shares of the company. Fcpm Iii Services B.V. purchased a new stake in Maplight Therapeutics in the 4th quarter valued at about $56,672,000. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Maplight Therapeutics during the 4th quarter worth about $49,154,000. Goldman Sachs Group Inc. purchased a new position in Maplight Therapeutics in the fourth quarter valued at approximately $34,026,000. Nan Fung Group Holdings Ltd purchased a new position in Maplight Therapeutics in the fourth quarter valued at about $17,060,000. Finally, 5AM Venture Management LLC purchased a new position in shares of Maplight Therapeutics in the fourth quarter valued at $16,687,000.

About Maplight Therapeutics

We are a clinical-stage biopharmaceutical company focused on improving the lives of patients suffering from debilitating central nervous system, or CNS, disorders. We were founded by globally recognized leaders in psychiatry and neuroscience research to address the lack of circuit-specific pharmacotherapies available for patients. Our discovery platform holds the potential to fill this void by identifying neural circuits causally linked to disease and targeting those circuits for therapeutic modulation.