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

Shares of Maplight Therapeutics, Inc. (NASDAQ:MPLT) have been assigned a consensus rating of “Buy” from the thirteen ratings firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, eight have given a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $37.7778.

Several brokerages have recently issued reports on MPLT. Canaccord Genuity Group began coverage on Maplight Therapeutics in a research note on Thursday, March 19th. They issued a “buy” rating and a $35.00 price objective on the stock. HC Wainwright restated a “buy” rating and set a $45.00 price target on shares of Maplight Therapeutics in a report on Thursday, May 28th. Lifesci Capital raised Maplight Therapeutics to a “strong-buy” rating in a research report on Thursday, May 14th. Wall Street Zen downgraded Maplight Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Finally, Stifel Nicolaus upped their target price on shares of Maplight Therapeutics from $28.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday, June 1st.

Insider Activity

In other news, CEO Christopher A. Kroeger sold 118,235 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer directly owned 1,394,094 shares in the company, valued at approximately $37,905,415.86. This trade represents a 7.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 Maplight Therapeutics stock in a transaction on 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 of the company’s stock, valued at approximately $7,001,622. This trade represents a 9.25% 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. In the last 90 days, insiders sold 495,244 shares of company stock valued at $14,079,461. 3.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Sanofi acquired a new stake in shares of Maplight Therapeutics during the 4th quarter worth about $16,020,000. Seven Grand Managers LLC acquired a new position in Maplight Therapeutics in the fourth quarter valued at approximately $1,756,000. Blue Owl Capital Holdings LP purchased a new position in Maplight Therapeutics in the fourth quarter valued at approximately $5,745,000. Strs Ohio acquired a new stake in Maplight Therapeutics during the fourth quarter worth approximately $53,000. Finally, Millennium Management LLC acquired a new stake in Maplight Therapeutics during the fourth quarter worth approximately $245,000.

Maplight Therapeutics Stock Down 0.6%

Shares of MPLT opened at $29.27 on Wednesday. Maplight Therapeutics has a fifty-two week low of $12.24 and a fifty-two week high of $33.28. The firm’s 50 day moving average price is $27.78 and its 200 day moving average price is $21.20. The company has a market cap of $1.25 billion and a P/E ratio of -0.71.

Maplight Therapeutics (NASDAQ:MPLT) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($1.34) EPS for the quarter, missing the consensus estimate of ($0.91) by ($0.43). Research analysts forecast that Maplight Therapeutics will post -5.04 earnings per share for the current year.

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.