Craig Hallum Issues Pessimistic Forecast for Maplight Therapeutics (NASDAQ:MPLT) Stock Price

Maplight Therapeutics (NASDAQ:MPLT) had its price target cut by stock analysts at Craig Hallum from $43.00 to $40.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Craig Hallum’s target price suggests a potential upside of 34.27% from the stock’s previous close.

A number of other equities analysts have also commented on MPLT. Canaccord Genuity Group began coverage on Maplight Therapeutics in a research note on Thursday, March 19th. They issued a “buy” rating and a $35.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating on shares of Maplight Therapeutics in a report on Monday. UBS Group assumed coverage on shares of Maplight Therapeutics in a research report on Tuesday, May 26th. They set a “buy” rating and a $48.00 price target on the stock. Stifel Nicolaus increased their price objective on shares of Maplight Therapeutics from $28.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Finally, Benchmark restated a “buy” rating on shares of Maplight Therapeutics in a research report on Monday. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Maplight Therapeutics has an average rating of “Buy” and an average target price of $38.00.

Maplight Therapeutics Stock Up 3.4%

Shares of MPLT stock opened at $29.79 on Tuesday. The company has a market capitalization of $1.27 billion and a P/E ratio of -0.73. Maplight Therapeutics has a 12-month low of $12.24 and a 12-month high of $33.28. The firm has a 50-day moving average price of $28.88 and a 200 day moving average price of $22.18.

Maplight Therapeutics (NASDAQ:MPLT) last announced its earnings results on Thursday, May 14th. The company reported ($1.34) EPS for the quarter, missing the consensus estimate of ($0.91) by ($0.43). As a group, research analysts expect that Maplight Therapeutics will post -5.04 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Vishwas Setia sold 10,564 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $28.24, for a total value of $298,327.36. Following the completion of the transaction, the chief financial officer owned 356,256 shares in the company, valued at $10,060,669.44. This trade represents a 2.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher A. Kroeger sold 118,235 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $27.19, for a total value of $3,214,809.65. Following the sale, the chief executive officer owned 1,394,094 shares in the company, valued at approximately $37,905,415.86. This represents a 7.82% 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. Insiders have sold 495,244 shares of company stock valued at $14,079,461 over the last ninety days. 3.80% of the stock is owned by insiders.

Institutional Trading of Maplight Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC acquired a new position in Maplight Therapeutics in the 1st quarter valued at $1,113,000. ADAR1 Capital Management LLC bought a new stake in Maplight Therapeutics during the first quarter worth about $7,622,000. Bank of New York Mellon Corp grew its stake in Maplight Therapeutics by 10.1% during the first quarter. Bank of New York Mellon Corp now owns 39,465 shares of the company’s stock worth $802,000 after buying an additional 3,608 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in shares of Maplight Therapeutics in the 4th quarter valued at approximately $49,168,000. Finally, Invesco Ltd. bought a new stake in shares of Maplight Therapeutics during the 4th quarter worth approximately $228,000.

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.