Maplight Therapeutics, Inc. (NASDAQ:MPLT) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Shares of Maplight Therapeutics, Inc. (NASDAQ:MPLT) have earned a consensus rating of “Moderate Buy” from the eighteen ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and four have given a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $29.50.

MPLT has been the subject of a number of recent analyst reports. Benchmark reiterated a “buy” rating on shares of Maplight Therapeutics in a research report on Monday, June 22nd. Jefferies Financial Group restated a “buy” rating on shares of Maplight Therapeutics in a report on Monday, July 27th. HC Wainwright reduced their price objective on shares of Maplight Therapeutics from $45.00 to $26.00 and set a “buy” rating for the company in a research note on Tuesday, July 28th. Guggenheim assumed coverage on shares of Maplight Therapeutics in a report on Monday, October 5th. They issued a “neutral” rating for the company. Finally, Needham & Company LLC dropped their target price on shares of Maplight Therapeutics from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Monday, August 31st.

Maplight Therapeutics Stock Down 2.6%

Shares of Maplight Therapeutics stock opened at $8.60 on Tuesday. The firm has a market cap of $477.99 million and a price-to-earnings ratio of -0.20. The business has a fifty day simple moving average of $11.64 and a 200-day simple moving average of $22.70. Maplight Therapeutics has a fifty-two week low of $8.48 and a fifty-two week high of $40.43.

Maplight Therapeutics (NASDAQ:MPLT) last issued its earnings results on Thursday, August 13th. The company reported ($1.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.40) by $0.08. Analysts anticipate that Maplight Therapeutics will post -5.01 earnings per share for the current fiscal year.

Insider Activity at Maplight Therapeutics

In other Maplight Therapeutics news, insider James Lillie sold 22,082 shares of the business’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 sale, the insider directly owned 202,380 shares of the company’s stock, valued at $2,537,845.20. The trade was a 9.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Troy Cox bought 15,620 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were purchased at an average cost of $9.52 per share, for a total transaction of $148,702.40. Following the completion of the purchase, the director owned 15,620 shares in the company, valued at approximately $148,702.40. This trade represents a ? increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 3.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Nan Fung Group Holdings Ltd acquired a new position in Maplight Therapeutics during the second quarter valued at $34,809,708. BlackRock Inc. acquired a new stake in Maplight Therapeutics during the 2nd quarter worth about $36,741,000. Blue Owl Capital Holdings LP acquired a new stake in Maplight Therapeutics during the 2nd quarter worth about $26,161,000. ADAR1 Capital Management LLC purchased a new position in Maplight Therapeutics during the 1st quarter valued at about $7,622,000. Finally, 5AM Venture Management LLC purchased a new position in Maplight Therapeutics during the 2nd quarter valued at about $34,048,394.

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.