Maplight Therapeutics (NASDAQ:MPLT) Upgraded to “Strong-Buy” at BMO Capital Markets

BMO Capital Markets upgraded shares of Maplight Therapeutics (NASDAQ:MPLT) to a strong-buy rating in a research report released on Monday,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. UBS Group lifted their price objective on Maplight Therapeutics from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday. Benchmark reaffirmed a “buy” rating on shares of Maplight Therapeutics in a report on Monday, June 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Maplight Therapeutics in a research note on Monday, July 13th. Lifesci Capital raised shares of Maplight Therapeutics to a “strong-buy” rating in a report on Thursday, May 14th. Finally, TD Cowen assumed coverage on shares of Maplight Therapeutics in a research report on Tuesday, April 7th. They set a “buy” rating on the stock. Five research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $40.09.

Maplight Therapeutics Stock Performance

Shares of Maplight Therapeutics stock opened at $37.44 on Monday. The company has a 50-day simple moving average of $31.80 and a two-hundred day simple moving average of $24.69. Maplight Therapeutics has a 52-week low of $12.24 and a 52-week high of $40.43. The stock has a market capitalization of $1.60 billion and a PE ratio of -0.91.

Maplight Therapeutics (NASDAQ:MPLT) last released its quarterly earnings data on Thursday, May 14th. The company reported ($1.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.43). As a group, equities research analysts forecast that Maplight Therapeutics will post -5.13 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Strs Ohio bought a new stake in shares of Maplight Therapeutics during the 4th quarter valued at $53,000. Blue Owl Capital Holdings LP bought a new stake in Maplight Therapeutics during the fourth quarter valued at about $5,745,000. Geode Capital Management LLC bought a new stake in Maplight Therapeutics during the fourth quarter valued at about $6,835,000. Seven Grand Managers LLC purchased a new stake in Maplight Therapeutics in the fourth quarter worth about $1,756,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of Maplight Therapeutics in the fourth quarter worth about $34,026,000.

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.