Needham & Company LLC Cuts Maplight Therapeutics (NASDAQ:MPLT) Price Target to $43.00

Maplight Therapeutics (NASDAQ:MPLT) had its target price trimmed by Needham & Company LLC from $45.00 to $43.00 in a research report sent to investors on Monday, MarketBeat Ratings reports. The brokerage currently has a buy rating on the stock.

Other equities analysts also recently issued research reports about the stock. Wolfe Research reiterated an “outperform” rating and issued a $30.00 price target on shares of Maplight Therapeutics in a report on Monday, July 27th. Raymond James Financial set a $31.00 price objective on shares of Maplight Therapeutics in a research note on Friday, August 14th. HC Wainwright dropped their price objective on shares of Maplight Therapeutics from $45.00 to $26.00 and set a “buy” rating on the stock in a report on Tuesday, July 28th. Benchmark reiterated a “buy” rating on shares of Maplight Therapeutics in a research note on Monday, June 22nd. Finally, Wall Street Zen raised shares of Maplight Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Four research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.50.

Maplight Therapeutics Price Performance

Shares of MPLT stock opened at $13.06 on Monday. The business has a fifty day moving average of $22.97 and a 200 day moving average of $24.04. Maplight Therapeutics has a 1 year low of $9.10 and a 1 year high of $40.43. The firm has a market capitalization of $605.72 million and a price-to-earnings ratio of -0.31.

Maplight Therapeutics (NASDAQ:MPLT) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($1.32) earnings per share for the quarter, beating the consensus estimate of ($1.40) by $0.08. As a group, equities research analysts expect that Maplight Therapeutics will post -5.12 earnings per share for the current year.

Insider Activity at Maplight Therapeutics

In other news, Director Troy Cox bought 15,620 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was purchased at an average cost of $9.52 per share, with a total value of $148,702.40. Following the acquisition, the director directly owned 15,620 shares in the company, valued at $148,702.40. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James Woodruff Lillie sold 22,082 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $12.54, for a total transaction of $276,908.28. Following the completion of the transaction, the insider owned 202,380 shares of the company’s stock, valued at approximately $2,537,845.20. This represents a 9.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Maplight Therapeutics

Hedge funds have recently modified their holdings of the company. Legal & General Group Plc purchased a new position in shares of Maplight Therapeutics in the 2nd quarter valued at about $37,000. Strs Ohio purchased a new position in Maplight Therapeutics during the fourth quarter worth approximately $53,000. Police & Firemen s Retirement System of New Jersey purchased a new position in Maplight Therapeutics during the fourth quarter worth approximately $70,000. New York State Common Retirement Fund acquired a new stake in Maplight Therapeutics in the fourth quarter valued at approximately $93,000. Finally, MetLife Investment Management LLC purchased a new stake in shares of Maplight Therapeutics in the fourth quarter valued at approximately $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.