Insider Buying: Maplight Therapeutics (NASDAQ:MPLT) Director Buys $252,678.36 in Stock

Maplight Therapeutics, Inc. (NASDAQ:MPLT) Director Timothy John Garnett purchased 14,124 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were purchased at an average price of $17.89 per share, for a total transaction of $252,678.36. Following the completion of the purchase, the director owned 14,124 shares of the company’s stock, valued at approximately $252,678.36. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Maplight Therapeutics Price Performance

Shares of MPLT opened at $17.22 on Friday. The stock has a market cap of $781.27 million and a price-to-earnings ratio of -0.46. The firm has a 50 day simple moving average of $18.15. Maplight Therapeutics, Inc. has a twelve month low of $12.24 and a twelve month high of $21.55.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. purchased a new stake in shares of Maplight Therapeutics in the fourth quarter valued at $34,026,000. Sanofi acquired a new position in shares of Maplight Therapeutics during the 4th quarter valued at about $16,020,000. Pivotal bioVenture Partners Investment Advisor LLC acquired a new stake in shares of Maplight Therapeutics in the fourth quarter worth approximately $10,743,000. Velan Capital Investment Management LP purchased a new stake in Maplight Therapeutics in the fourth quarter valued at approximately $9,174,000. Finally, Siren L.L.C. acquired a new position in Maplight Therapeutics in the fourth quarter valued at $7,904,000.

Wall Street Analysts Forecast Growth

MPLT has been the topic of a number of research analyst reports. Leerink Partners assumed coverage on Maplight Therapeutics in a research report on Friday, November 21st. They set an “outperform” rating and a $30.00 target price on the stock. Weiss Ratings initiated coverage on shares of Maplight Therapeutics in a research note on Thursday, January 22nd. They issued a “sell (e)” rating on the stock. Zacks Research upgraded shares of Maplight Therapeutics to a “hold” rating in a research report on Monday, November 24th. Stifel Nicolaus began coverage on shares of Maplight Therapeutics in a research report on Friday, November 21st. They issued a “buy” rating and a $28.00 price target on the stock. Finally, Jefferies Financial Group assumed coverage on Maplight Therapeutics in a research note on Friday, November 21st. They issued a “buy” rating and a $32.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Maplight Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

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.