Maplight Therapeutics, Inc. (NASDAQ:MPLT) Given Average Rating of “Moderate Buy” by Brokerages

Maplight Therapeutics, Inc. (NASDAQ:MPLT) has been assigned a consensus recommendation of “Moderate Buy” from the eleven analysts that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, seven have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $34.4286.

Several brokerages recently issued reports on MPLT. Wall Street Zen lowered Maplight Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Weiss Ratings began coverage on Maplight Therapeutics in a research report on Thursday, January 22nd. They issued a “sell (e)” rating for the company. TD Cowen began coverage on Maplight Therapeutics in a research report on Tuesday, April 7th. They issued a “buy” rating for the company. HC Wainwright began coverage on Maplight Therapeutics in a research report on Monday, May 4th. They issued a “buy” rating and a $45.00 price objective for the company. Finally, Needham & Company LLC began coverage on Maplight Therapeutics in a research report on Wednesday, April 8th. They issued a “buy” rating and a $37.00 price objective for the company.

Insiders Place Their Bets

In related news, insider Anatol Kreitzer sold 45,422 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $29.66, for a total value of $1,347,216.52. Following the completion of the transaction, the insider directly owned 211,190 shares in the company, valued at approximately $6,263,895.40. The trade was a 17.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Erin Pennock Foff sold 24,052 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $28.76, for a total value of $691,735.52. Following the completion of the sale, the insider owned 350,497 shares in the company, valued at $10,080,293.72. The trade was a 6.42% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders acquired 25,000 shares of company stock worth $441,168 and sold 391,204 shares worth $11,125,068. 3.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Maplight Therapeutics

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

Maplight Therapeutics Price Performance

Maplight Therapeutics stock opened at $28.73 on Friday. The firm has a market cap of $1.22 billion and a price-to-earnings ratio of -0.72. Maplight Therapeutics has a 1 year low of $12.24 and a 1 year high of $33.28. The stock’s 50-day moving average is $24.24.

Maplight Therapeutics (NASDAQ:MPLT) last posted its earnings results 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). On average, equities research analysts expect that Maplight Therapeutics will post -3.96 EPS for the current fiscal year.

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.