Maplight Therapeutics, Inc. (NASDAQ:MPLT) Receives $38.80 Average PT from Analysts

Maplight Therapeutics, Inc. (NASDAQ:MPLT) has been given an average rating of “Buy” by the fifteen ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, nine have assigned a buy recommendation and four have assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $39.10.

MPLT has been the topic of several research analyst reports. UBS Group initiated coverage on Maplight Therapeutics in a research note on Tuesday, May 26th. They set a “buy” rating and a $48.00 price objective on the stock. Lifesci Capital upgraded Maplight Therapeutics to a “strong-buy” rating in a report on Thursday, May 14th. Raymond James Financial began coverage on Maplight Therapeutics in a research note on Wednesday, June 24th. They set a “strong-buy” rating and a $46.00 target price for the company. Canaccord Genuity Group assumed coverage on shares of Maplight Therapeutics in a research note on Thursday, March 19th. They issued a “buy” rating and a $35.00 price target on the stock. Finally, Craig Hallum reduced their price target on shares of Maplight Therapeutics from $43.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, June 23rd.

Maplight Therapeutics Stock Performance

MPLT traded down $0.48 during midday trading on Friday, reaching $39.32. 1,183,971 shares of the company were exchanged, compared to its average volume of 484,862. The stock has a market capitalization of $1.68 billion and a P/E ratio of -0.96. The stock’s 50-day simple moving average is $30.71 and its 200 day simple moving average is $23.71. Maplight Therapeutics has a one year low of $12.24 and a one year high of $40.43.

Maplight Therapeutics (NASDAQ:MPLT) last posted its earnings results on Thursday, May 14th. The company reported ($1.34) earnings per share for the quarter, missing the consensus estimate of ($0.91) by ($0.43). On average, research analysts anticipate that Maplight Therapeutics will post -5.13 earnings per share for the current year.

Insider Transactions at Maplight Therapeutics

In other Maplight Therapeutics news, CEO Christopher A. Kroeger sold 118,235 shares of Maplight Therapeutics stock in a transaction on Monday, May 18th. The shares were sold at an average price of $27.19, for a total value of $3,214,809.65. Following the sale, the chief executive officer directly owned 1,394,094 shares in the company, valued at approximately $37,905,415.86. The trade was a 7.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vishwas Setia sold 10,564 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were 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 of the company’s stock, valued at $10,060,669.44. The trade was a 2.88% 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 sold 495,244 shares of company stock worth $14,079,461. Company insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MPLT. Fcpm Iii Services B.V. bought a new position in Maplight Therapeutics during the fourth quarter worth $56,672,000. T. Rowe Price Investment Management Inc. acquired a new stake in Maplight Therapeutics during the fourth quarter worth approximately $49,168,000. Goldman Sachs Group Inc. bought a new stake in shares of Maplight Therapeutics during the fourth quarter worth approximately $34,026,000. Nan Fung Group Holdings Ltd acquired a new position in shares of Maplight Therapeutics in the fourth quarter valued at approximately $17,060,000. Finally, 5AM Venture Management LLC bought a new position in shares of Maplight Therapeutics during the fourth quarter worth approximately $16,687,000.

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.