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

Maplight Therapeutics, Inc. (NASDAQ:MPLT) has earned a consensus recommendation of “Buy” from the fifteen ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, nine have given a buy recommendation and four have given a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $38.80.

A number of equities analysts have weighed in on the company. TD Cowen began coverage on Maplight Therapeutics in a research note on Tuesday, April 7th. They set a “buy” rating on the stock. Canaccord Genuity Group assumed coverage on Maplight Therapeutics in a research note on Thursday, March 19th. They issued a “buy” rating and a $35.00 target price for the company. UBS Group started coverage on Maplight Therapeutics in a report on Tuesday, May 26th. They set a “buy” rating and a $48.00 price target on the stock. Craig Hallum lowered their price target on shares of Maplight Therapeutics from $43.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, June 23rd. Finally, Lifesci Capital raised shares of Maplight Therapeutics to a “strong-buy” rating in a report on Thursday, May 14th.

Insider Buying and Selling

In other Maplight Therapeutics news, insider Jonathan Gillis sold 51,900 shares of the business’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $29.74, for a total value of $1,543,506.00. Following the transaction, the insider directly owned 199,154 shares in the company, valued at $5,922,839.96. The trade was a 20.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Erin Pennock Foff sold 24,052 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $28.76, for a total transaction of $691,735.52. Following the completion of the sale, the insider directly owned 350,497 shares of the company’s stock, valued at approximately $10,080,293.72. This trade represents a 6.42% decrease in their position. 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. Insiders sold a total of 495,244 shares of company stock worth $14,079,461 over the last ninety days. 3.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Maplight Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strs Ohio acquired a new position in shares of Maplight Therapeutics in the 4th quarter valued at $53,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Maplight Therapeutics during the 4th quarter worth about $70,000. New York State Common Retirement Fund purchased a new stake in Maplight Therapeutics in the 4th quarter valued at about $93,000. MetLife Investment Management LLC acquired a new position in Maplight Therapeutics in the fourth quarter valued at about $172,000. Finally, Walleye Capital LLC acquired a new position in Maplight Therapeutics in the fourth quarter valued at about $205,000.

Maplight Therapeutics Price Performance

Maplight Therapeutics stock opened at $37.09 on Friday. The company has a fifty day simple moving average of $29.91 and a 200-day simple moving average of $23.09. The firm has a market capitalization of $1.58 billion and a price-to-earnings ratio of -0.90. Maplight Therapeutics has a 52-week low of $12.24 and a 52-week high of $37.61.

Maplight Therapeutics (NASDAQ:MPLT) last released its earnings results on Thursday, May 14th. The company reported ($1.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.43). On average, research analysts anticipate that Maplight Therapeutics will post -5.13 EPS for the current fiscal year.

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.