Maplight Therapeutics (NASDAQ:MPLT) Stock Price Up 12.8% – Still a Buy?

Maplight Therapeutics, Inc. (NASDAQ:MPLT) shares were up 12.8% on Wednesday . The stock traded as high as $31.65 and last traded at $31.1440. Approximately 79,636 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 212,942 shares. The stock had previously closed at $27.62.

Analyst Ratings Changes

MPLT has been the subject of several research analyst reports. Canaccord Genuity Group initiated coverage on Maplight Therapeutics in a research note on Thursday, March 19th. They set a “buy” rating and a $35.00 price target for the company. TD Cowen started coverage on Maplight Therapeutics in a report on Tuesday, April 7th. They set a “buy” rating for the company. Needham & Company LLC assumed coverage on shares of Maplight Therapeutics in a report on Wednesday, April 8th. They issued a “buy” rating and a $37.00 price target on the stock. Weiss Ratings initiated coverage on shares of Maplight Therapeutics in a research report on Thursday, January 22nd. They set a “sell (e)” rating on the stock. Finally, Wall Street Zen lowered shares of Maplight Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.67.

Maplight Therapeutics Stock Performance

The stock has a fifty day moving average of $20.35. The company has a market cap of $1.38 billion and a PE ratio of -0.82.

Maplight Therapeutics (NASDAQ:MPLT) last posted its quarterly earnings data on Thursday, March 26th. The company reported ($2.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.05) by ($1.42). On average, equities analysts predict that Maplight Therapeutics, Inc. will post -3.87 EPS for the current fiscal year.

Insider Buying and Selling

In other Maplight Therapeutics news, Director Timothy John Garnett purchased 14,124 shares of Maplight Therapeutics stock in a transaction that occurred on Tuesday, February 10th. The stock was purchased at an average price of $17.89 per share, with a total value of $252,678.36. Following the completion of the acquisition, the director owned 14,124 shares of the company’s stock, valued at approximately $252,678.36. This trade 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, Director Robert C. Malenka sold 21,262 shares of Maplight Therapeutics stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $18.55, for a total value of $394,410.10. Following the sale, the director owned 371,885 shares in the company, valued at $6,898,466.75. This represents a 5.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have acquired 39,124 shares of company stock worth $693,846 and have sold 74,612 shares worth $1,368,065.

Hedge Funds Weigh In On Maplight Therapeutics

Several large investors have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. acquired a new position in Maplight Therapeutics in the fourth quarter worth about $49,168,000. Invesco Ltd. bought a new position in Maplight Therapeutics during the 4th quarter worth approximately $228,000. Vestal Point Capital LP acquired a new position in shares of Maplight Therapeutics in the 4th quarter worth approximately $6,763,000. Tudor Investment Corp ET AL bought a new stake in shares of Maplight Therapeutics in the 4th quarter valued at approximately $840,000. Finally, Orbimed Advisors LLC acquired a new stake in Maplight Therapeutics during the fourth quarter worth about $952,000.

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.