Maplight Therapeutics (NASDAQ:MPLT) Stock Rating Upgraded by UBS Group

Maplight Therapeutics (NASDAQ:MPLT) was upgraded by analysts at UBS Group to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

MPLT has been the subject of several other research reports. HC Wainwright reissued a “buy” rating and issued a $45.00 price target on shares of Maplight Therapeutics in a report on Thursday. Needham & Company LLC started coverage on Maplight Therapeutics in a research report on Wednesday, April 8th. They issued a “buy” rating and a $37.00 target price on the stock. Craig Hallum started coverage on Maplight Therapeutics in a research report on Thursday, May 21st. They issued a “buy” rating and a $43.00 target price on the stock. TD Cowen started coverage on Maplight Therapeutics in a research report on Tuesday, April 7th. They issued a “buy” rating on the stock. Finally, Lifesci Capital upgraded Maplight Therapeutics to a “strong-buy” rating in a research report on Thursday, May 14th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Maplight Therapeutics has an average rating of “Buy” and a consensus target price of $36.89.

Maplight Therapeutics Stock Performance

Shares of NASDAQ MPLT opened at $29.78 on Tuesday. The company has a market cap of $1.27 billion and a PE ratio of -0.73. The business has a 50-day simple moving average of $25.99 and a two-hundred day simple moving average of $20.39. Maplight Therapeutics has a fifty-two week low of $12.24 and a fifty-two week high of $33.28.

Maplight Therapeutics (NASDAQ:MPLT) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($1.34) earnings per share for the quarter, missing the consensus estimate of ($0.91) by ($0.43). On average, sell-side analysts predict that Maplight Therapeutics will post -4.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Maplight Therapeutics news, insider Erin Pennock Foff sold 24,052 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $28.76, for a total value of $691,735.52. Following the completion of the transaction, the insider directly owned 350,497 shares of the company’s stock, valued at approximately $10,080,293.72. The trade was a 6.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher A. Kroeger sold 118,235 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 1,394,094 shares of the company’s stock, valued at $37,905,415.86. The trade was a 7.82% 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 sold a total of 495,244 shares of company stock valued at $14,079,461 in the last three months. 3.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Janus Henderson Group PLC purchased a new stake in shares of Maplight Therapeutics in the first quarter valued at approximately $1,113,000. ADAR1 Capital Management LLC purchased a new stake in shares of Maplight Therapeutics during the first quarter worth approximately $7,622,000. Bank of New York Mellon Corp increased its position in shares of Maplight Therapeutics by 10.1% during the first quarter. Bank of New York Mellon Corp now owns 39,465 shares of the company’s stock worth $802,000 after purchasing an additional 3,608 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in Maplight Therapeutics during the fourth quarter worth $49,168,000. Finally, Invesco Ltd. acquired a new position in Maplight Therapeutics during the fourth quarter worth $228,000.

About Maplight Therapeutics

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.