Brokerages Set Maplight Therapeutics, Inc. (NASDAQ:MPLT) Price Target at $34.42

Maplight Therapeutics, Inc. (NASDAQ:MPLT) has been given a consensus rating of “Buy” by the seventeen brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, ten have issued a buy recommendation and four have issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $34.4167.

MPLT has been the topic of several recent research reports. Wolfe Research reaffirmed an “outperform” rating and set a $30.00 target price on shares of Maplight Therapeutics in a research note on Monday, July 27th. BMO Capital Markets began coverage on shares of Maplight Therapeutics in a research report on Monday, July 20th. They set an “outperform” rating and a $46.00 price target on the stock. Wall Street Zen lowered shares of Maplight Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. Benchmark restated a “buy” rating on shares of Maplight Therapeutics in a research report on Monday, June 22nd. Finally, Raymond James Financial initiated coverage on Maplight Therapeutics in a report on Wednesday, June 24th. They issued a “strong-buy” rating and a $46.00 price target for the company.

Insider Buying and Selling at Maplight Therapeutics

In related news, CEO Christopher A. Kroeger sold 118,235 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $27.19, for a total transaction of $3,214,809.65. Following the completion of the sale, the chief executive officer directly owned 1,394,094 shares in the company, valued at approximately $37,905,415.86. This trade represents a 7.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Troy Cox bought 15,620 shares of Maplight Therapeutics stock in a transaction on Tuesday, July 28th. The shares were purchased 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 directly owned 15,620 shares of the company’s stock, valued at $148,702.40. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold a total of 188,708 shares of company stock worth $4,865,496 in the last three months. 3.80% of the stock is owned by corporate insiders.

Institutional Trading of Maplight Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in MPLT. Strs Ohio purchased a new position in Maplight Therapeutics during the fourth quarter worth about $53,000. Blue Owl Capital Holdings LP purchased a new stake in Maplight Therapeutics in the 4th quarter valued at $5,745,000. Geode Capital Management LLC purchased a new stake in shares of Maplight Therapeutics in the fourth quarter valued at about $6,835,000. Seven Grand Managers LLC purchased a new stake in Maplight Therapeutics during the 4th quarter valued at approximately $1,756,000. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Maplight Therapeutics in the 4th quarter valued at approximately $34,026,000.

Maplight Therapeutics Trading Down 0.2%

NASDAQ MPLT opened at $12.92 on Thursday. The stock has a market capitalization of $550.65 million and a price-to-earnings ratio of -0.32. The stock has a 50-day moving average of $29.68 and a 200 day moving average of $24.80. Maplight Therapeutics has a twelve month low of $9.10 and a twelve month high of $40.43.

Maplight Therapeutics (NASDAQ:MPLT) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($1.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.43). Equities analysts predict that Maplight Therapeutics will post -5.22 EPS for the current fiscal year.

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.