Maplight Therapeutics (NASDAQ:MPLT) Trading 4.8% Higher – Time to Buy?

Maplight Therapeutics, Inc. (NASDAQ:MPLT)’s stock price rose 4.8% during mid-day trading on Friday . The stock traded as high as $19.47 and last traded at $19.47. Approximately 21,903 shares changed hands during trading, a decline of 88% from the average daily volume of 183,259 shares. The stock had previously closed at $18.58.

Wall Street Analyst Weigh In

Several research firms have commented on MPLT. Wall Street Zen raised shares of Maplight Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, December 20th. Zacks Research raised shares of Maplight Therapeutics to a “hold” rating in a research report on Monday, November 24th. Morgan Stanley began coverage on shares of Maplight Therapeutics in a report on Friday, November 21st. They issued an “overweight” rating and a $34.00 price objective for the company. Jefferies Financial Group began coverage on shares of Maplight Therapeutics in a research report on Friday, November 21st. They set a “buy” rating and a $32.00 price target on the stock. Finally, Leerink Partners initiated coverage on shares of Maplight Therapeutics in a report on Friday, November 21st. They issued an “outperform” rating and a $30.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Maplight Therapeutics currently has an average rating of “Buy” and a consensus target price of $31.00.

Maplight Therapeutics Stock Up 0.9%

The stock has a market cap of $850.69 million and a price-to-earnings ratio of -0.50. The company has a 50 day moving average price of $17.10.

Maplight Therapeutics (NASDAQ:MPLT) last posted its quarterly earnings data on Thursday, December 4th. The company reported ($37.18) EPS for the quarter, missing analysts’ consensus estimates of ($1.86) by ($35.32).

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.