Maplight Therapeutics (NASDAQ:MPLT) Shares Up 8% – Time to Buy?

Maplight Therapeutics, Inc. (NASDAQ:MPLT) shares rose 8% on Friday . The stock traded as high as $14.18 and last traded at $14.03. Approximately 71,766 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 259,546 shares. The stock had previously closed at $12.99.

Analyst Upgrades and Downgrades

MPLT has been the subject of a number of recent research reports. Leerink Partnrs raised shares of Maplight Therapeutics to a “strong-buy” rating in a research note on Friday, November 21st. Morgan Stanley started coverage on Maplight Therapeutics in a report on Friday, November 21st. They issued an “overweight” rating and a $34.00 target price for the company. Stifel Nicolaus assumed coverage on Maplight Therapeutics in a report on Friday, November 21st. They set a “buy” rating and a $28.00 price target on the stock. Wall Street Zen lowered shares of Maplight Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Finally, Zacks Research upgraded shares of Maplight Therapeutics to a “hold” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Maplight Therapeutics has an average rating of “Buy” and an average target price of $31.00.

Maplight Therapeutics Stock Performance

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.