Maplight Therapeutics, Inc. (NASDAQ:MPLT) Receives Consensus Rating of “Moderate Buy” from Analysts

Maplight Therapeutics, Inc. (NASDAQ:MPLT) has earned an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $31.80.

MPLT has been the subject of a number of analyst reports. Weiss Ratings began coverage on shares of Maplight Therapeutics in a research report on Thursday, January 22nd. They issued a “sell (e)” rating for the company. Canaccord Genuity Group began coverage on shares of Maplight Therapeutics in a research note on Thursday, March 19th. They issued a “buy” rating and a $35.00 target price for the company. Finally, Wall Street Zen cut Maplight Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st.

Insider Activity

In other Maplight Therapeutics news, Director Timothy John Garnett purchased 14,124 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was acquired at an average price of $17.89 per share, with a total value of $252,678.36. Following the acquisition, the director directly owned 14,124 shares of the company’s stock, valued at $252,678.36. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert C. Malenka sold 11,264 shares of the firm’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $18.42, for a total value of $207,482.88. Following the sale, the director directly owned 325,795 shares of the company’s stock, valued at $6,001,143.90. This represents a 3.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders acquired 39,124 shares of company stock valued at $693,846 and sold 74,612 shares valued at $1,368,065.

Institutional Trading of Maplight Therapeutics

A number of hedge funds have recently modified their holdings of MPLT. Strs Ohio acquired a new position in Maplight Therapeutics in the 4th quarter valued at about $53,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Maplight Therapeutics in the fourth quarter valued at approximately $70,000. New York State Common Retirement Fund bought a new position in shares of Maplight Therapeutics during the fourth quarter worth approximately $93,000. MetLife Investment Management LLC bought a new position in shares of Maplight Therapeutics during the fourth quarter worth approximately $172,000. Finally, Walleye Capital LLC acquired a new stake in Maplight Therapeutics during the 4th quarter worth approximately $205,000.

Maplight Therapeutics Trading Up 8.7%

Shares of Maplight Therapeutics stock opened at $20.33 on Friday. The company has a market cap of $862.81 million and a PE ratio of -0.55. Maplight Therapeutics has a 12-month low of $12.24 and a 12-month high of $21.55. The business’s 50 day moving average is $17.96.

Maplight Therapeutics (NASDAQ:MPLT) last released its earnings results on Thursday, March 26th. The company reported ($2.47) earnings per share for the quarter, missing the consensus estimate of ($1.05) by ($1.42).

Maplight Therapeutics Company Profile

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.