Maplight Therapeutics (NASDAQ:MPLT) Given New $43.00 Price Target at Needham & Company LLC

Maplight Therapeutics (NASDAQ:MPLT) had its price target lowered by investment analysts at Needham & Company LLC from $45.00 to $43.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price target would indicate a potential upside of 241.27% from the stock’s current price.

MPLT has been the subject of several other research reports. Jefferies Financial Group reissued a “buy” rating on shares of Maplight Therapeutics in a report on Monday, July 27th. HC Wainwright dropped their target price on shares of Maplight Therapeutics from $45.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, July 28th. Wall Street Zen raised shares of Maplight Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Maplight Therapeutics in a research note on Monday, July 13th. Finally, Benchmark reiterated a “buy” rating on shares of Maplight Therapeutics in a report on Monday, June 22nd. Four research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.50.

Maplight Therapeutics Stock Performance

NASDAQ MPLT opened at $12.60 on Monday. The stock has a market capitalization of $584.39 million and a price-to-earnings ratio of -0.30. The stock has a 50-day moving average of $23.97 and a 200 day moving average of $24.13. Maplight Therapeutics has a twelve month low of $9.10 and a twelve month high of $40.43.

Maplight Therapeutics (NASDAQ:MPLT) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($1.32) EPS for the quarter, beating the consensus estimate of ($1.40) by $0.08. Equities analysts predict that Maplight Therapeutics will post -5.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider James Woodruff Lillie sold 22,082 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $12.54, for a total value of $276,908.28. Following the completion of the sale, the insider directly owned 202,380 shares in the company, valued at $2,537,845.20. This represents a 9.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Troy Cox purchased 15,620 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was acquired at an average cost of $9.52 per share, for a total transaction of $148,702.40. Following the completion of the purchase, the director owned 15,620 shares of the company’s stock, valued at approximately $148,702.40. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 3.80% of the company’s stock.

Institutional Trading of Maplight Therapeutics

A number of hedge funds have recently bought and sold shares of the business. Nan Fung Group Holdings Ltd acquired a new position in Maplight Therapeutics during the second quarter worth $34,809,708. Blue Owl Capital Holdings LP acquired a new stake in shares of Maplight Therapeutics in the 2nd quarter worth $26,161,000. ADAR1 Capital Management LLC purchased a new position in shares of Maplight Therapeutics during the 1st quarter worth $7,622,000. 5AM Venture Management LLC acquired a new position in shares of Maplight Therapeutics during the 2nd quarter valued at about $34,048,394. Finally, Sanofi purchased a new stake in shares of Maplight Therapeutics in the fourth quarter valued at about $16,020,000.

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.