Maplight Therapeutics (NASDAQ:MPLT) Coverage Initiated at TD Cowen

Analysts at TD Cowen began coverage on shares of Maplight Therapeutics (NASDAQ:MPLT) in a research note issued to investors on Tuesday. The brokerage set a “buy” rating on the stock.

Several other research analysts also recently commented on the stock. Weiss Ratings initiated coverage on shares of Maplight Therapeutics in a report on Thursday, January 22nd. They set a “sell (e)” rating for the company. Wall Street Zen downgraded shares of Maplight Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Finally, Canaccord Genuity Group initiated coverage on shares of Maplight Therapeutics in a report on Thursday, March 19th. They set a “buy” rating and a $35.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Maplight Therapeutics has an average rating of “Moderate Buy” and an average price target of $31.80.

Maplight Therapeutics Price Performance

MPLT opened at $22.61 on Tuesday. The firm’s 50-day moving average is $18.25. Maplight Therapeutics has a 52 week low of $12.24 and a 52 week high of $22.94. The company has a market cap of $959.48 million and a P/E ratio of -0.57.

Maplight Therapeutics (NASDAQ:MPLT) last released its quarterly earnings data on Thursday, March 26th. The company reported ($2.47) EPS for the quarter, missing the consensus estimate of ($1.05) by ($1.42).

Insider Activity at Maplight Therapeutics

In other Maplight Therapeutics news, Director Timothy John Garnett purchased 14,124 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was purchased at an average price of $17.89 per share, with a total value of $252,678.36. Following the acquisition, the director owned 14,124 shares in the company, valued at approximately $252,678.36. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert C. Malenka sold 21,262 shares of the stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $18.55, for a total transaction of $394,410.10. Following the completion of the transaction, the director directly owned 371,885 shares of the company’s stock, valued at approximately $6,898,466.75. The trade was a 5.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders acquired 39,124 shares of company stock valued at $693,846 and sold 74,612 shares valued at $1,368,065.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Deutsche Bank AG bought a new position in shares of Maplight Therapeutics in the 4th quarter valued at about $210,000. Walleye Capital LLC purchased a new stake in Maplight Therapeutics in the 4th quarter worth about $205,000. MetLife Investment Management LLC purchased a new stake in Maplight Therapeutics in the 4th quarter worth about $172,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Maplight Therapeutics in the 4th quarter worth about $70,000. Finally, 5AM Venture Management LLC purchased a new stake in Maplight Therapeutics in the 4th quarter worth about $16,687,000.

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.