Maplight Therapeutics (NASDAQ:MPLT) Hits New 12-Month High – What’s Next?

Maplight Therapeutics, Inc. (NASDAQ:MPLT)’s share price hit a new 52-week high on Friday . The company traded as high as $34.36 and last traded at $33.1560, with a volume of 58855 shares changing hands. The stock had previously closed at $31.96.

Wall Street Analysts Forecast Growth

MPLT has been the topic of several research reports. Lifesci Capital upgraded shares of Maplight Therapeutics to a “strong-buy” rating in a report on Thursday, May 14th. Craig Hallum decreased their target price on Maplight Therapeutics from $43.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday. TD Cowen initiated coverage on Maplight Therapeutics in a research note on Tuesday, April 7th. They set a “buy” rating on the stock. HC Wainwright reaffirmed a “buy” rating on shares of Maplight Therapeutics in a report on Monday. Finally, Raymond James Financial assumed coverage on Maplight Therapeutics in a research report on Wednesday. They issued a “strong-buy” rating and a $46.00 price objective for the company. Four equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Maplight Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $38.80.

Maplight Therapeutics Stock Up 2.8%

The company has a market capitalization of $1.40 billion and a price-to-earnings ratio of -0.80. The business has a fifty day simple moving average of $29.11 and a two-hundred day simple moving average of $22.44.

Maplight Therapeutics (NASDAQ:MPLT) last issued its earnings results 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). As a group, equities analysts predict that Maplight Therapeutics, Inc. will post -5.04 earnings per share for the current fiscal year.

Insider Activity

In other Maplight Therapeutics news, insider Erin Pennock Foff sold 24,052 shares of Maplight Therapeutics stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $28.76, for a total transaction 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. This trade represents a 6.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Gillis sold 51,900 shares of the business’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $29.74, for a total transaction of $1,543,506.00. Following the completion of the sale, the insider owned 199,154 shares in the company, valued at $5,922,839.96. This represents a 20.67% 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. Over the last ninety days, insiders sold 495,244 shares of company stock valued at $14,079,461. 3.80% of the stock is owned by company insiders.

Institutional Trading of Maplight Therapeutics

Several large investors have recently added to or reduced their stakes in the company. Strs Ohio acquired a new stake in shares of Maplight Therapeutics during the fourth quarter worth approximately $53,000. Bank of New York Mellon Corp boosted 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 worth $802,000 after acquiring an additional 3,608 shares in the last quarter. Police & Firemen s Retirement System of New Jersey bought a new stake in Maplight Therapeutics during the 4th quarter worth approximately $70,000. New York State Common Retirement Fund bought a new stake in Maplight Therapeutics during the 4th quarter worth approximately $93,000. Finally, MetLife Investment Management LLC acquired a new stake in Maplight Therapeutics during the 4th quarter valued at $172,000.

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.