Maplight Therapeutics’ (MPLT) “Equal Weight” Rating Reiterated at Morgan Stanley

Morgan Stanley reiterated their equal weight rating on shares of Maplight Therapeutics (NASDAQ:MPLT) in a report released on Tuesday, MarketBeat Ratings reports. They currently have a $21.00 target price on the stock, down from their prior target price of $34.00.

Several other analysts have also issued reports on MPLT. BMO Capital Markets began coverage on Maplight Therapeutics in a report on Monday, July 20th. They set an “outperform” rating and a $46.00 price objective for the company. TD Cowen began coverage on Maplight Therapeutics in a research note on Tuesday, April 7th. They issued a “buy” rating on the stock. Lifesci Capital raised Maplight Therapeutics to a “strong-buy” rating in a research report on Thursday, May 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Maplight Therapeutics in a research note on Monday, July 13th. Finally, HC Wainwright reiterated a “buy” rating on shares of Maplight Therapeutics in a report on Monday, June 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Maplight Therapeutics currently has an average rating of “Buy” and an average target price of $34.42.

Maplight Therapeutics Stock Performance

Maplight Therapeutics stock opened at $14.03 on Tuesday. Maplight Therapeutics has a twelve month low of $9.10 and a twelve month high of $40.43. The firm has a market cap of $597.96 million and a PE ratio of -0.34. The firm’s 50 day moving average price is $30.98 and its two-hundred day moving average price is $24.96.

Maplight Therapeutics (NASDAQ:MPLT) last issued its earnings results on Thursday, May 14th. The company reported ($1.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.43). Equities analysts anticipate that Maplight Therapeutics will post -5.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other Maplight Therapeutics news, Director Troy Cox bought 15,620 shares of the stock in a transaction on Tuesday, July 28th. The shares were purchased at an average cost of $9.52 per share, with a total value of $148,702.40. Following the completion of the transaction, the director directly owned 15,620 shares of the company’s stock, valued at $148,702.40. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher A. Kroeger sold 118,235 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $27.19, for a total value of $3,214,809.65. Following the transaction, the chief executive officer owned 1,394,094 shares in the company, valued at approximately $37,905,415.86. This trade represents a 7.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 379,987 shares of company stock worth $10,644,411 in the last 90 days. 3.80% of the stock is owned by corporate insiders.

Institutional Trading of Maplight Therapeutics

Several large investors have recently made changes to their positions in MPLT. Fcpm Iii Services B.V. acquired a new position in shares of Maplight Therapeutics during the 4th quarter valued at about $56,672,000. T. Rowe Price Investment Management Inc. acquired a new stake in Maplight Therapeutics in the 4th quarter worth approximately $49,154,000. Goldman Sachs Group Inc. acquired a new stake in Maplight Therapeutics in the 4th quarter worth approximately $34,026,000. Nan Fung Group Holdings Ltd bought a new stake in Maplight Therapeutics during the fourth quarter worth approximately $17,060,000. Finally, 5AM Venture Management LLC bought a new stake in Maplight Therapeutics during the fourth quarter worth approximately $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.