Maplight Therapeutics (NASDAQ:MPLT) Earns Buy Rating from HC Wainwright

Maplight Therapeutics (NASDAQ:MPLT)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $45.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 52.28% from the stock’s current price.

A number of other equities research analysts have also weighed in on MPLT. Lifesci Capital upgraded shares of Maplight Therapeutics to a “strong-buy” rating in a report on Thursday, May 14th. Wall Street Zen lowered shares of Maplight Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Craig Hallum initiated coverage on shares of Maplight Therapeutics in a report on Thursday, May 21st. They set a “buy” rating and a $43.00 price objective for the company. TD Cowen initiated coverage on shares of Maplight Therapeutics in a report on Tuesday, April 7th. They set a “buy” rating for the company. Finally, UBS Group initiated coverage on shares of Maplight Therapeutics in a report on Tuesday. They set a “buy” rating and a $48.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.89.

Maplight Therapeutics Trading Up 0.3%

Maplight Therapeutics stock opened at $29.55 on Thursday. The firm has a 50-day moving average price of $25.75 and a 200-day moving average price of $20.29. The firm has a market capitalization of $1.26 billion and a PE ratio of -0.72. Maplight Therapeutics has a 12-month low of $12.24 and a 12-month high of $33.28.

Maplight Therapeutics (NASDAQ:MPLT) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($1.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.43). As a group, sell-side analysts predict that Maplight Therapeutics will post -4.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Maplight Therapeutics

In other news, CEO Christopher A. Kroeger sold 118,235 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $27.19, for a total value of $3,214,809.65. Following the completion of the sale, the chief executive officer owned 1,394,094 shares in the company, valued at approximately $37,905,415.86. The trade was a 7.82% decrease in their position. 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, insider James Woodruff Lillie sold 24,811 shares of the business’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $28.76, for a total transaction of $713,564.36. Following the completion of the sale, the insider owned 243,450 shares of the company’s stock, valued at approximately $7,001,622. This represents a 9.25% decrease in their position. 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. In 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 company insiders.

Institutional Investors Weigh In On Maplight Therapeutics

Several large investors have recently modified their holdings of the business. Janus Henderson Group PLC bought a new stake in shares of Maplight Therapeutics in the 1st quarter valued at about $1,113,000. ADAR1 Capital Management LLC bought a new stake in shares of Maplight Therapeutics in the 1st quarter valued at about $7,622,000. Bank of New York Mellon Corp raised its holdings in shares of 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 purchasing an additional 3,608 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in shares of Maplight Therapeutics in the 4th quarter valued at about $49,168,000. Finally, Invesco Ltd. bought a new stake in shares of Maplight Therapeutics in the 4th quarter valued at about $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.