Maplight Therapeutics, Inc. (NASDAQ:MPLT) Receives Consensus Rating of “Buy” from Analysts

Maplight Therapeutics, Inc. (NASDAQ:MPLT) has been assigned a consensus recommendation of “Buy” from the thirteen brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, eight have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $37.7778.

MPLT has been the subject of a number of analyst reports. Needham & Company LLC initiated coverage on shares of Maplight Therapeutics in a report on Wednesday, April 8th. They issued a “buy” rating and a $37.00 price objective for the company. Lifesci Capital raised shares of Maplight Therapeutics to a “strong-buy” rating in a report on Thursday, May 14th. Stifel Nicolaus upped their price objective on shares of Maplight Therapeutics from $28.00 to $36.00 and gave the company a “buy” rating in a report on Monday, June 1st. Canaccord Genuity Group assumed coverage on shares of Maplight Therapeutics in a report on Thursday, March 19th. They issued a “buy” rating and a $35.00 price objective for the company. Finally, UBS Group assumed coverage on shares of Maplight Therapeutics in a research report on Tuesday, May 26th. They issued a “buy” rating and a $48.00 target price on the stock.

Maplight Therapeutics Stock Down 2.9%

Maplight Therapeutics stock opened at $27.16 on Wednesday. Maplight Therapeutics has a 52-week low of $12.24 and a 52-week high of $33.28. The company has a fifty day simple moving average of $28.56 and a 200-day simple moving average of $21.73. The firm has a market capitalization of $1.16 billion and a price-to-earnings ratio of -0.66.

Maplight Therapeutics (NASDAQ:MPLT) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($1.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.43). On average, research analysts anticipate that Maplight Therapeutics will post -5.04 EPS for the current fiscal year.

Insider Buying and Selling

In other Maplight Therapeutics news, insider James Woodruff Lillie sold 24,811 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $28.76, for a total value of $713,564.36. Following the transaction, the insider owned 243,450 shares of the company’s stock, valued at $7,001,622. This represents a 9.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Anatol Kreitzer sold 45,422 shares of the stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $29.66, for a total transaction of $1,347,216.52. Following the sale, the insider directly owned 211,190 shares in the company, valued at $6,263,895.40. This represents a 17.70% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 495,244 shares of company stock valued at $14,079,461 over the last three months. Company insiders own 3.80% of the company’s stock.

Institutional Trading of Maplight Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Strs Ohio purchased a new position in Maplight Therapeutics in the fourth quarter valued at approximately $53,000. Police & Firemen s Retirement System of New Jersey purchased a new position in Maplight Therapeutics in the fourth quarter valued at approximately $70,000. New York State Common Retirement Fund purchased a new position in Maplight Therapeutics in the fourth quarter valued at approximately $93,000. MetLife Investment Management LLC purchased a new position in Maplight Therapeutics in the fourth quarter valued at approximately $172,000. Finally, Walleye Capital LLC purchased a new position in Maplight Therapeutics in the fourth quarter valued at approximately $205,000.

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.