Maplight Therapeutics (NASDAQ:MPLT) Sets New 12-Month High – What’s Next?

Maplight Therapeutics, Inc. (NASDAQ:MPLT)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $37.78 and last traded at $37.6130, with a volume of 110012 shares. The stock had previously closed at $37.06.

Wall Street Analyst Weigh In

A number of research analysts recently commented on MPLT shares. Canaccord Genuity Group assumed coverage on shares of Maplight Therapeutics in a research report on Thursday, March 19th. They set a “buy” rating and a $35.00 price objective on the stock. Lifesci Capital raised Maplight Therapeutics to a “strong-buy” rating in a research note on Thursday, May 14th. Raymond James Financial began coverage on shares of Maplight Therapeutics in a research report on Wednesday, June 24th. They set a “strong-buy” rating and a $46.00 target price for the company. Stifel Nicolaus increased their price objective on Maplight Therapeutics from $28.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Finally, Needham & Company LLC lifted their target price on Maplight Therapeutics from $37.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Four analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Maplight Therapeutics currently has an average rating of “Buy” and a consensus target price of $38.80.

Maplight Therapeutics Trading Up 2.1%

The company’s fifty day moving average price is $30.18 and its two-hundred day moving average price is $23.33. The firm has a market cap of $1.61 billion and a P/E ratio of -0.92.

Maplight Therapeutics (NASDAQ:MPLT) last released its quarterly earnings results on Thursday, May 14th. The company reported ($1.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.43). On average, analysts predict that Maplight Therapeutics, Inc. will post -5.13 EPS for the current fiscal year.

Insider Activity

In related news, insider James Woodruff Lillie sold 24,811 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $28.76, for a total transaction of $713,564.36. Following the completion of the transaction, the insider directly owned 243,450 shares in the company, valued at approximately $7,001,622. This trade represents a 9.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Erin Pennock Foff sold 4,438 shares of Maplight Therapeutics stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $28.54, for a total transaction of $126,660.52. Following the completion of the sale, the insider owned 346,059 shares in the company, valued at $9,876,523.86. This trade represents a 1.27% 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. Insiders have sold 495,244 shares of company stock worth $14,079,461 in the last 90 days. Corporate insiders own 3.80% of the company’s stock.

Institutional Trading of Maplight Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of MPLT. Janus Henderson Group PLC acquired a new position in shares of Maplight Therapeutics during the 1st quarter worth approximately $1,113,000. ADAR1 Capital Management LLC acquired a new position in shares of Maplight Therapeutics in the first quarter valued at approximately $7,622,000. Bank of New York Mellon Corp grew its holdings in Maplight Therapeutics by 10.1% in the 1st quarter. Bank of New York Mellon Corp now owns 39,465 shares of the company’s stock valued at $802,000 after buying an additional 3,608 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in shares of Maplight Therapeutics in the fourth quarter valued at about $49,168,000. Finally, Invesco Ltd. bought a new position in shares of Maplight Therapeutics during the fourth quarter worth approximately $228,000.

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.