Maplight Therapeutics (NASDAQ:MPLT) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen cut shares of Maplight Therapeutics (NASDAQ:MPLT) from a sell rating to a strong sell rating in a research note released on Saturday morning.

A number of other equities analysts have also recently weighed in on the stock. Lifesci Capital raised shares of Maplight Therapeutics to a “strong-buy” rating in a research note on Thursday, May 14th. Jefferies Financial Group reissued a “buy” rating on shares of Maplight Therapeutics in a report on Monday, July 27th. Craig Hallum restated a “buy” rating and set a $25.00 target price on shares of Maplight Therapeutics in a research report on Tuesday. Canaccord Genuity Group dropped their target price on shares of Maplight Therapeutics from $43.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday. Finally, BMO Capital Markets initiated coverage on shares of Maplight Therapeutics in a research report on Monday, July 20th. They set an “outperform” rating and a $46.00 price target for the company. Four equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $34.42.

Maplight Therapeutics Price Performance

Maplight Therapeutics stock opened at $13.02 on Friday. The stock’s 50 day moving average price is $30.66 and its 200 day moving average price is $24.88. Maplight Therapeutics has a 1-year low of $9.10 and a 1-year high of $40.43. The company has a market cap of $554.89 million and a PE ratio of -0.32.

Maplight Therapeutics (NASDAQ:MPLT) last released its quarterly earnings data on Thursday, May 14th. The company reported ($1.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.43). On average, equities research analysts anticipate that Maplight Therapeutics will post -5.22 EPS for the current fiscal year.

Insider Transactions at Maplight Therapeutics

In related news, insider James Woodruff Lillie sold 24,811 shares of the business’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $28.76, for a total value of $713,564.36. Following the sale, the insider directly owned 243,450 shares in the company, valued at $7,001,622. The trade was a 9.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Troy Cox acquired 15,620 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was acquired at an average cost of $9.52 per share, for a total transaction of $148,702.40. Following the completion of the purchase, the director owned 15,620 shares in the company, valued at $148,702.40. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders sold 379,987 shares of company stock worth $10,644,411. Corporate insiders own 3.80% of the company’s stock.

Institutional Trading of Maplight Therapeutics

Several large investors have recently modified their holdings of MPLT. Strs Ohio acquired a new position in shares of Maplight Therapeutics during the 4th quarter worth approximately $53,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in Maplight Therapeutics during the 4th quarter valued at $70,000. New York State Common Retirement Fund purchased a new position in Maplight Therapeutics during the fourth quarter worth $93,000. MetLife Investment Management LLC purchased a new position in Maplight Therapeutics during the fourth quarter worth $172,000. Finally, Walleye Capital LLC acquired a new position in shares of Maplight Therapeutics in the fourth quarter worth $205,000.

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.