Maplight Therapeutics, Inc. (NASDAQ:MPLT) Stock Has Consensus Price Target of $29.50

Maplight Therapeutics, Inc. (NASDAQ:MPLT) has been assigned an average rating of “Moderate Buy” from the seventeen ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, nine have assigned a buy recommendation and four have assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $29.50.

A number of equities research analysts have weighed in on MPLT shares. Canaccord Genuity Group set a $21.00 price target on shares of Maplight Therapeutics in a research report on Friday, August 14th. BMO Capital Markets started coverage on shares of Maplight Therapeutics in a report on Monday, July 20th. They issued an “outperform” rating and a $46.00 price objective on the stock. Jefferies Financial Group reaffirmed a “buy” rating on shares of Maplight Therapeutics in a research report on Monday, July 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Maplight Therapeutics in a research note on Monday, July 13th. Finally, HC Wainwright lowered their price objective on shares of Maplight Therapeutics from $45.00 to $26.00 and set a “buy” rating for the company in a research note on Tuesday, July 28th.

Maplight Therapeutics Trading Down 0.1%

Maplight Therapeutics stock opened at $10.76 on Friday. The stock has a market cap of $499.05 million and a P/E ratio of -0.25. The company has a 50-day moving average price of $15.23 and a 200 day moving average price of $23.43. Maplight Therapeutics has a 12-month low of $9.10 and a 12-month high of $40.43.

Maplight Therapeutics (NASDAQ:MPLT) last released its quarterly earnings data on Thursday, August 13th. The company reported ($1.32) EPS for the quarter, beating analysts’ consensus estimates of ($1.40) by $0.08. As a group, analysts forecast that Maplight Therapeutics will post -5.12 EPS for the current year.

Insider Activity

In other news, insider James Lillie sold 22,082 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $12.54, for a total transaction of $276,908.28. Following the completion of the transaction, the insider directly owned 202,380 shares of the company’s stock, valued at approximately $2,537,845.20. The trade was a 9.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Troy Cox bought 15,620 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The shares were purchased at an average price 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 approximately $148,702.40. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 3.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Nan Fung Group Holdings Ltd purchased a new position in Maplight Therapeutics in the second quarter valued at $34,809,708. BlackRock Inc. purchased a new stake in Maplight Therapeutics during the 2nd quarter worth about $36,741,000. Blue Owl Capital Holdings LP acquired a new position in shares of Maplight Therapeutics during the 2nd quarter worth about $26,161,000. ADAR1 Capital Management LLC acquired a new position in shares of Maplight Therapeutics during the 1st quarter worth about $7,622,000. Finally, 5AM Venture Management LLC purchased a new position in shares of Maplight Therapeutics in the 2nd quarter valued at about $34,048,394.

About Maplight Therapeutics

MapLight Therapeutics is a clinical-stage biopharmaceutical company focused on developing treatments for disorders of the central nervous system. The company’s research programs are aimed at addressing significant unmet needs in psychiatric and neurological diseases.

MapLight’s pipeline consists of investigational therapies designed to target biological pathways associated with conditions such as schizophrenia and other brain disorders. Its activities include drug discovery, clinical development and the evaluation of potential treatments through clinical trials.

The company’s products remain investigational and require successful clinical testing and regulatory review before they can be marketed.