Maplight Therapeutics (NASDAQ:MPLT) Upgraded at Wall Street Zen

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

MPLT has been the topic of several other reports. BMO Capital Markets assumed coverage on Maplight Therapeutics in a research note on Monday, July 20th. They set an “outperform” rating and a $46.00 target price on the stock. Craig Hallum reaffirmed a “buy” rating and set a $25.00 price objective on shares of Maplight Therapeutics in a research report on Tuesday, July 28th. UBS Group downgraded Maplight Therapeutics from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $52.00 to $13.00 in a report on Monday, August 10th. Needham & Company LLC boosted their target price on Maplight Therapeutics from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Maplight Therapeutics in a research note on Monday, July 27th. Four equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.67.

Maplight Therapeutics Stock Performance

Shares of Maplight Therapeutics stock opened at $11.24 on Friday. The company has a 50-day simple moving average of $26.95 and a two-hundred day simple moving average of $24.48. The stock has a market capitalization of $479.05 million and a PE ratio of -0.27. Maplight Therapeutics has a 52-week low of $9.10 and a 52-week high of $40.43.

Maplight Therapeutics (NASDAQ:MPLT) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($1.32) EPS for the quarter, beating analysts’ consensus estimates of ($1.40) by $0.08. As a group, equities research analysts forecast that Maplight Therapeutics will post -5.22 EPS for the current fiscal year.

Insider Activity at Maplight Therapeutics

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Legal & General Group Plc bought a new stake in Maplight Therapeutics in the second quarter worth $37,000. Strs Ohio purchased a new position in Maplight Therapeutics in the fourth quarter worth about $53,000. Police & Firemen s Retirement System of New Jersey bought a new stake in Maplight Therapeutics during the fourth quarter worth approximately $70,000. New York State Common Retirement Fund bought a new stake in Maplight Therapeutics during the fourth quarter worth approximately $93,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Maplight Therapeutics during the second quarter valued at approximately $252,000.

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.