Maplight Therapeutics (NASDAQ:MPLT) Trading Down 7.7% – Here’s What Happened

Maplight Therapeutics, Inc. (NASDAQ:MPLT)’s stock price traded down 7.7% during trading on Tuesday . The stock traded as low as $17.49 and last traded at $17.61. 61,802 shares were traded during mid-day trading, a decline of 63% from the average session volume of 166,009 shares. The stock had previously closed at $19.07.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Zacks Research upgraded Maplight Therapeutics to a “hold” rating in a research note on Monday, November 24th. Wall Street Zen upgraded Maplight Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, December 20th. Leerink Partners started coverage on shares of Maplight Therapeutics in a research note on Friday, November 21st. They set an “outperform” rating and a $30.00 price target for the company. Jefferies Financial Group began coverage on shares of Maplight Therapeutics in a research note on Friday, November 21st. They issued a “buy” rating and a $32.00 price objective on the stock. Finally, Morgan Stanley initiated coverage on Maplight Therapeutics in a report on Friday, November 21st. They issued an “overweight” rating and a $34.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $31.00.

Maplight Therapeutics Stock Down 7.5%

The stock’s 50 day simple moving average is $16.75. The company has a market capitalization of $800.33 million and a PE ratio of -0.47.

Maplight Therapeutics (NASDAQ:MPLT) last posted its quarterly earnings results on Thursday, December 4th. The company reported ($37.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.86) by ($35.32).

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.