Maplight Therapeutics, Inc. (NASDAQ:MPLT) Stock Has Consensus Target Price of $29.50

Shares of Maplight Therapeutics, Inc. (NASDAQ:MPLT) have received a consensus recommendation of “Moderate Buy” from the eighteen research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, nine have assigned a buy recommendation and four have assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $29.50.

A number of research firms have recently weighed in on MPLT. HC Wainwright reduced their price target on shares of Maplight Therapeutics from $45.00 to $26.00 and set a “buy” rating on the stock in a research note on Tuesday, July 28th. Wolfe Research reiterated an “outperform” rating and issued a $30.00 price target on shares of Maplight Therapeutics in a research report on Monday, July 27th. Jefferies Financial Group reiterated a “buy” rating on shares of Maplight Therapeutics in a report on Monday, July 27th. BMO Capital Markets assumed coverage on Maplight Therapeutics in a report on Monday, July 20th. They issued an “outperform” rating and a $46.00 price objective on the stock. Finally, Morgan Stanley downgraded shares of Maplight Therapeutics from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $34.00 to $21.00 in a research note on Tuesday, July 28th.

Insider Buying and Selling at Maplight Therapeutics

In other Maplight Therapeutics news, insider Erin Pennock Foff sold 15,355 shares of the company’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $8.08, for a total value of $124,068.40. Following the sale, the insider owned 296,906 shares in the company, valued at approximately $2,399,000.48. The trade was a 4.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider James Lillie sold 11,513 shares of the business’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $8.08, for a total transaction of $93,025.04. Following the completion of the transaction, the insider owned 198,597 shares in the company, valued at approximately $1,604,663.76. The trade was a 5.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 122,974 shares of company stock worth $990,690 over the last three months. 3.80% of the stock is currently owned by insiders.

Institutional Trading of Maplight Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of MPLT. Wellington Management Group LLP raised its holdings in Maplight Therapeutics by 12.4% in the 2nd quarter. Wellington Management Group LLP now owns 51,917 shares of the company’s stock worth $1,861,000 after purchasing an additional 5,709 shares during the period. Bank of America Corp DE purchased a new position in Maplight Therapeutics during the 2nd quarter worth $1,952,000. Freestone Grove Partners LP purchased a new stake in Maplight Therapeutics during the second quarter worth about $6,054,000. 5AM Venture Management LLC acquired a new position in shares of Maplight Therapeutics during the 2nd quarter worth approximately $34,048,394. Finally, ADAR1 Capital Management LLC purchased a new stake in shares of Maplight Therapeutics in the second quarter valued at $950,000.

Maplight Therapeutics Trading Up 11.4%

MPLT stock opened at $6.93 on Friday. Maplight Therapeutics has a 52 week low of $6.06 and a 52 week high of $40.43. The company has a market capitalization of $385.14 million and a price-to-earnings ratio of -0.16. The firm’s 50-day moving average is $9.91 and its two-hundred day moving average is $20.12.

Maplight Therapeutics (NASDAQ:MPLT) last released its quarterly earnings results on Thursday, August 13th. The company reported ($1.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.40) by $0.08. On average, equities research analysts predict that Maplight Therapeutics will post -5.01 earnings per share for the current year.

Maplight Therapeutics Company Profile

MapLight Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for neuropsychiatric and neurological disorders. The company’s research is centered on therapies designed to address underlying dysfunction in brain circuits and improve symptoms associated with serious conditions affecting the central nervous system.

MapLight is advancing a pipeline of investigational drug candidates through preclinical and clinical development. Its programs are intended to target significant unmet needs in areas such as schizophrenia and other neuropsychiatric conditions.