Maplight Therapeutics (NASDAQ:MPLT) Trading Down 7.9% – Here’s What Happened

Maplight Therapeutics, Inc. (NASDAQ:MPLT) shares were down 7.9% during mid-day trading on Friday . The company traded as low as $16.17 and last traded at $16.19. Approximately 54,595 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 385,723 shares. The stock had previously closed at $17.57.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MPLT. Leerink Partners initiated coverage on shares of Maplight Therapeutics in a research note on Friday, November 21st. They issued an “outperform” rating and a $30.00 price target for the company. Stifel Nicolaus initiated coverage on Maplight Therapeutics in a research report on Friday, November 21st. They issued a “buy” rating and a $28.00 target price for the company. Morgan Stanley began coverage on Maplight Therapeutics in a research report on Friday, November 21st. They set an “overweight” rating and a $34.00 price target on the stock. Zacks Research raised Maplight Therapeutics to a “hold” rating in a research note on Monday, November 24th. Finally, Wall Street Zen raised Maplight Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, December 20th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $31.00.

Maplight Therapeutics Stock Performance

The firm’s fifty day simple moving average is $16.65. The company has a market capitalization of $723.70 million and a P/E ratio of -0.43.

Maplight Therapeutics (NASDAQ:MPLT) last issued its earnings results on Thursday, December 4th. The company reported ($37.18) earnings per share (EPS) 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.