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

Maplight Therapeutics, Inc. (NASDAQ:MPLT) has received an average recommendation of “Buy” from the thirteen brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, eight have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $37.7778.

Several analysts have recently commented on MPLT shares. Craig Hallum started coverage on shares of Maplight Therapeutics in a research report on Thursday, May 21st. They set a “buy” rating and a $43.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $45.00 price target on shares of Maplight Therapeutics in a research report on Thursday, May 28th. Stifel Nicolaus lifted their price target on shares of Maplight Therapeutics from $28.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, June 1st. TD Cowen began coverage on shares of Maplight Therapeutics in a research report on Tuesday, April 7th. They set a “buy” rating on the stock. Finally, UBS Group began coverage on shares of Maplight Therapeutics in a report on Tuesday, May 26th. They issued a “buy” rating and a $48.00 target price for the company.

Maplight Therapeutics Price Performance

MPLT opened at $27.75 on Wednesday. The company’s 50 day simple moving average is $28.30 and its two-hundred day simple moving average is $21.52. Maplight Therapeutics has a 1-year low of $12.24 and a 1-year high of $33.28. The firm has a market capitalization of $1.18 billion and a price-to-earnings ratio of -0.68.

Maplight Therapeutics (NASDAQ:MPLT) last released its earnings results on Thursday, May 14th. The company reported ($1.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.43). On average, equities analysts anticipate that Maplight Therapeutics will post -5.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Maplight Therapeutics news, insider Erin Pennock Foff sold 24,052 shares of the business’s stock in a transaction 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 transaction, the insider owned 350,497 shares in the company, valued at $10,080,293.72. The trade was a 6.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Anatol Kreitzer sold 45,422 shares of the business’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $29.66, for a total transaction of $1,347,216.52. Following the completion of the transaction, the insider owned 211,190 shares of the company’s stock, valued at approximately $6,263,895.40. This trade represents a 17.70% 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. Over the last quarter, insiders have sold 495,244 shares of company stock valued at $14,079,461. Corporate insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Maplight Therapeutics

Several institutional investors have recently modified their holdings of the business. Strs Ohio acquired a new position in shares of Maplight Therapeutics in the fourth quarter worth $53,000. Bank of New York Mellon Corp grew its stake in shares of Maplight Therapeutics by 10.1% in the first quarter. Bank of New York Mellon Corp now owns 39,465 shares of the company’s stock worth $802,000 after acquiring an additional 3,608 shares in the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Maplight Therapeutics during the fourth quarter worth $70,000. New York State Common Retirement Fund acquired a new stake in Maplight Therapeutics in the fourth quarter valued at $93,000. Finally, MetLife Investment Management LLC acquired a new stake in Maplight Therapeutics in the fourth quarter valued at $172,000.

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.