Craig Hallum Lowers Maplight Therapeutics (NASDAQ:MPLT) Price Target to $40.00

Maplight Therapeutics (NASDAQ:MPLT) had its price target lowered by stock analysts at Craig Hallum from $43.00 to $40.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Craig Hallum’s price objective would suggest a potential upside of 34.27% from the company’s current price.

A number of other research firms have also commented on MPLT. HC Wainwright reaffirmed a “buy” rating on shares of Maplight Therapeutics in a research note on Monday. Canaccord Genuity Group started coverage on shares of Maplight Therapeutics in a report on Thursday, March 19th. They issued a “buy” rating and a $35.00 target price on the stock. Wall Street Zen cut shares of Maplight Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Benchmark reiterated a “buy” rating on shares of Maplight Therapeutics in a report on Monday. Finally, Lifesci Capital raised Maplight Therapeutics to a “strong-buy” rating in a research report on Thursday, May 14th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $38.00.

Maplight Therapeutics Stock Up 3.4%

NASDAQ MPLT opened at $29.79 on Tuesday. The company has a market capitalization of $1.27 billion and a price-to-earnings ratio of -0.73. Maplight Therapeutics has a twelve month low of $12.24 and a twelve month high of $33.28. The stock has a fifty day simple moving average of $28.88 and a 200 day simple moving average of $22.18.

Maplight Therapeutics (NASDAQ:MPLT) last issued its quarterly 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). Research analysts expect that Maplight Therapeutics will post -5.04 earnings per share for the current fiscal year.

Insider Activity at Maplight Therapeutics

In other Maplight Therapeutics news, insider Erin Pennock Foff sold 4,438 shares of the firm’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $28.54, for a total value of $126,660.52. Following the completion of the sale, the insider directly owned 346,059 shares in the company, valued at approximately $9,876,523.86. This trade represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vishwas Setia sold 10,564 shares of Maplight Therapeutics stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $28.24, for a total transaction of $298,327.36. Following the completion of the sale, the chief financial officer directly owned 356,256 shares of the company’s stock, valued at approximately $10,060,669.44. This trade represents a 2.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 495,244 shares of company stock worth $14,079,461. 3.80% of the stock is owned by insiders.

Institutional Trading of Maplight Therapeutics

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

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.