Maplight Therapeutics (NASDAQ:MPLT) Research Coverage Started at TD Cowen

TD Cowen started coverage on shares of Maplight Therapeutics (NASDAQ:MPLT) in a research report sent to investors on Tuesday morning, Marketbeat reports. The brokerage issued a buy rating on the stock.

A number of other brokerages also recently issued reports on MPLT. Canaccord Genuity Group started coverage on Maplight Therapeutics in a research report on Thursday, March 19th. They set a “buy” rating and a $35.00 price objective for the company. Wall Street Zen cut Maplight Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Finally, Weiss Ratings initiated coverage on shares of Maplight Therapeutics in a research report on Thursday, January 22nd. They set a “sell (e)” rating for the company. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Maplight Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $32.67.

Maplight Therapeutics Stock Up 21.3%

NASDAQ MPLT opened at $29.41 on Tuesday. The firm has a market capitalization of $1.25 billion and a P/E ratio of -0.74. Maplight Therapeutics has a twelve month low of $12.24 and a twelve month high of $29.55. The firm has a fifty day moving average of $18.67.

Maplight Therapeutics (NASDAQ:MPLT) last posted its quarterly earnings data on Thursday, March 26th. The company reported ($2.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.05) by ($1.42).

Insider Activity

In related news, Director Robert C. Malenka sold 21,262 shares of the business’s stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $18.55, for a total value of $394,410.10. Following the completion of the sale, the director directly owned 371,885 shares of the company’s stock, valued at $6,898,466.75. The trade was a 5.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director George Pavlov purchased 10,658 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The shares were purchased at an average cost of $17.48 per share, for a total transaction of $186,301.84. Following the completion of the purchase, the director owned 10,658 shares in the company, valued at $186,301.84. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have purchased 39,124 shares of company stock worth $693,846 and have sold 74,612 shares worth $1,368,065.

Institutional Inflows and Outflows

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

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.