Maplight Therapeutics (NASDAQ:MPLT) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen lowered shares of Maplight Therapeutics (NASDAQ:MPLT) from a sell rating to a strong sell rating in a research report sent to investors on Saturday,Wall Street Zen reports.

A number of other equities research analysts have also issued reports on the stock. HC Wainwright reduced their target price on shares of Maplight Therapeutics from $45.00 to $26.00 and set a “buy” rating on the stock in a report on Tuesday, July 28th. UBS Group downgraded shares of Maplight Therapeutics from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $52.00 to $13.00 in a research note on Monday, August 10th. Morgan Stanley reaffirmed an “equal weight” rating and set a $21.00 price objective (down from $34.00) on shares of Maplight Therapeutics in a research report on Tuesday, July 28th. Canaccord Genuity Group set a $21.00 price objective on Maplight Therapeutics in a research note on Friday, August 14th. Finally, Needham & Company LLC decreased their target price on Maplight Therapeutics from $45.00 to $43.00 and set a “buy” rating for the company in a report on Monday, August 31st. Four equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

Maplight Therapeutics Price Performance

Shares of NASDAQ:MPLT opened at $9.82 on Friday. The firm has a market capitalization of $545.80 million and a PE ratio of -0.23. The firm’s 50-day moving average is $12.08 and its two-hundred day moving average is $23.02. Maplight Therapeutics has a 1 year low of $9.10 and a 1 year high of $40.43.

Maplight Therapeutics (NASDAQ:MPLT) last issued 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. Analysts expect that Maplight Therapeutics will post -5.12 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Troy Cox acquired 15,620 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were bought at an average cost of $9.52 per share, with a total value of $148,702.40. Following the transaction, the director owned 15,620 shares in the company, valued at approximately $148,702.40. This trade represents a ? increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Lillie sold 22,082 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $12.54, for a total transaction of $276,908.28. Following the completion of the sale, the insider owned 202,380 shares in the company, valued at $2,537,845.20. The trade was a 9.84% 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. 3.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Maplight Therapeutics

Several large investors have recently bought and sold shares of the business. Fcpm Iii Services B.V. acquired a new stake in Maplight Therapeutics in the fourth quarter valued at $56,672,000. BlackRock Inc. purchased a new position in shares of Maplight Therapeutics in the 2nd quarter valued at about $36,741,000. Nan Fung Group Holdings Ltd purchased a new position in shares of Maplight Therapeutics in the 4th quarter valued at about $17,060,000. 5AM Venture Management LLC acquired a new stake in shares of Maplight Therapeutics during the 2nd quarter worth about $34,048,394. Finally, Sanofi acquired a new stake in shares of Maplight Therapeutics during the 4th quarter worth about $16,020,000.

About Maplight Therapeutics

MapLight Therapeutics is a clinical-stage biopharmaceutical company developing medicines for neuropsychiatric and neurological disorders. The company focuses on conditions for which existing treatments may provide limited benefits or cause significant side effects.

MapLight uses a neuroscience-focused drug discovery and development approach to identify therapies intended to address the underlying biology of central nervous system disorders. Its pipeline includes investigational small-molecule treatments being studied for conditions such as schizophrenia and other serious mental health disorders.

The company conducts research and clinical development in the United States.