Maplight Therapeutics, Inc. (NASDAQ:MPLT) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Maplight Therapeutics, Inc. (NASDAQ:MPLT) have been given an average recommendation of “Moderate Buy” by the seventeen ratings firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and four have assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $29.50.

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus increased their price objective on shares of Maplight Therapeutics from $28.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Wolfe Research reissued an “outperform” rating and set a $30.00 target price on shares of Maplight Therapeutics in a research report on Monday, July 27th. UBS Group lowered Maplight Therapeutics from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $52.00 to $13.00 in a report on Monday, August 10th. Craig Hallum reaffirmed a “buy” rating and set a $25.00 price target on shares of Maplight Therapeutics in a research report on Tuesday, July 28th. Finally, HC Wainwright decreased their price target on shares of Maplight Therapeutics from $45.00 to $26.00 and set a “buy” rating for the company in a research note on Tuesday, July 28th.

Insider Buying and Selling

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

Institutional Investors Weigh In On Maplight Therapeutics

Several hedge funds have recently made changes to their positions in MPLT. Nan Fung Group Holdings Ltd purchased a new stake in Maplight Therapeutics in the second quarter valued at approximately $34,809,708. BlackRock Inc. purchased a new stake in shares of Maplight Therapeutics during the 2nd quarter worth about $36,741,000. Blue Owl Capital Holdings LP acquired a new position in Maplight Therapeutics during the second quarter valued at approximately $26,161,000. ADAR1 Capital Management LLC acquired a new stake in shares of Maplight Therapeutics in the first quarter worth $7,622,000. Finally, 5AM Venture Management LLC acquired a new position in shares of Maplight Therapeutics during the 2nd quarter valued at $34,048,394.

Maplight Therapeutics Trading Down 0.7%

Shares of MPLT opened at $11.32 on Friday. The firm has a 50-day moving average price of $17.91 and a 200 day moving average price of $23.68. Maplight Therapeutics has a 12-month low of $9.10 and a 12-month high of $40.43. The firm has a market capitalization of $525.02 million and a P/E ratio of -0.27.

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. Equities research analysts predict that Maplight Therapeutics will post -5.12 earnings per share for the current fiscal year.

Maplight Therapeutics Company Profile

MapLight Therapeutics is a clinical-stage biopharmaceutical company focused on developing treatments for disorders of the central nervous system. The company’s research programs are aimed at addressing significant unmet needs in psychiatric and neurological diseases.

MapLight’s pipeline consists of investigational therapies designed to target biological pathways associated with conditions such as schizophrenia and other brain disorders. Its activities include drug discovery, clinical development and the evaluation of potential treatments through clinical trials.

The company’s products remain investigational and require successful clinical testing and regulatory review before they can be marketed.