Maplight Therapeutics (NASDAQ:MPLT) Stock Price Up 5.3% – Should You Buy?

Maplight Therapeutics, Inc. (NASDAQ:MPLT) traded up 5.3% during trading on Tuesday . The stock traded as high as $13.60 and last traded at $13.66. Approximately 216,826 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 464,878 shares. The stock had previously closed at $12.97.

Wall Street Analyst Weigh In

MPLT has been the topic of several recent research reports. Craig Hallum reaffirmed a “buy” rating and set a $25.00 price objective on shares of Maplight Therapeutics in a research report on Tuesday, July 28th. Needham & Company LLC decreased their target price on shares of Maplight Therapeutics from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Monday. Canaccord Genuity Group set a $21.00 price target on shares of Maplight Therapeutics in a research note on Friday, August 14th. HC Wainwright cut their price target 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. Finally, Raymond James Financial set a $31.00 price objective on shares of Maplight Therapeutics in a research note on Friday, August 14th. Four analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Maplight Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

Maplight Therapeutics Stock Performance

The company has a market capitalization of $609.20 million and a P/E ratio of -0.31. The company has a 50-day simple moving average of $22.97 and a 200 day simple moving average of $24.04.

Maplight Therapeutics (NASDAQ:MPLT) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($1.32) earnings per share for the quarter, beating the consensus estimate of ($1.40) by $0.08. As a group, sell-side analysts forecast that Maplight Therapeutics, Inc. will post -5.12 earnings per share for the current year.

Insider Buying and Selling at Maplight Therapeutics

In other news, insider James Woodruff Lillie sold 22,082 shares of the company’s stock in a transaction dated 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 transaction, the insider owned 202,380 shares of the company’s stock, valued at approximately $2,537,845.20. This represents a 9.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Troy Cox bought 15,620 shares of the firm’s stock in a transaction that occurred 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 transaction, the director owned 15,620 shares of the company’s stock, valued at $148,702.40. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 3.80% of the company’s stock.

Institutional Trading of Maplight Therapeutics

Hedge funds have recently modified their holdings of the company. Fcpm Iii Services B.V. bought a new position in Maplight Therapeutics in the fourth quarter worth $56,672,000. T. Rowe Price Investment Management Inc. acquired a new position in shares of Maplight Therapeutics in the 4th quarter valued at $49,154,000. Goldman Sachs Group Inc. acquired a new position in shares of Maplight Therapeutics in the 4th quarter valued at $34,026,000. BlackRock Inc. bought a new position in shares of Maplight Therapeutics during the 2nd quarter worth about $36,741,000. Finally, Nan Fung Group Holdings Ltd acquired a new stake in shares of Maplight Therapeutics during the 4th quarter valued at about $17,060,000.

Maplight Therapeutics Company Profile

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.