Maplight Therapeutics (NASDAQ:MPLT) Stock Price Down 7.7% – Here’s Why

Shares of Maplight Therapeutics, Inc. (NASDAQ:MPLT) fell 7.7% during mid-day trading on Tuesday . The stock traded as low as $17.49 and last traded at $17.61. 61,802 shares were traded during mid-day trading, a decline of 63% from the average session volume of 166,009 shares. The stock had previously closed at $19.07.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Leerink Partnrs raised Maplight Therapeutics to a “strong-buy” rating in a research report on Friday, November 21st. Leerink Partners began coverage on Maplight Therapeutics in a report on Friday, November 21st. They issued an “outperform” rating and a $30.00 price objective for the company. Zacks Research raised shares of Maplight Therapeutics to a “hold” rating in a research note on Monday, November 24th. Stifel Nicolaus assumed coverage on shares of Maplight Therapeutics in a report on Friday, November 21st. They set a “buy” rating and a $28.00 target price on the stock. Finally, Jefferies Financial Group began coverage on shares of Maplight Therapeutics in a research note on Friday, November 21st. They issued a “buy” rating and a $32.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Maplight Therapeutics currently has a consensus rating of “Buy” and an average price target of $31.00.

Maplight Therapeutics Stock Performance

The company has a market capitalization of $800.33 million and a price-to-earnings ratio of -0.47. The firm has a fifty day moving average price of $16.75.

Maplight Therapeutics (NASDAQ:MPLT) last issued its quarterly earnings data on Thursday, December 4th. The company reported ($37.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.86) by ($35.32).

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.