Maplight Therapeutics, Inc. (NASDAQ:MPLT) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Maplight Therapeutics, Inc. (NASDAQ:MPLT) have received an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $31.80.

A number of brokerages have recently commented on MPLT. Canaccord Genuity Group initiated coverage on Maplight Therapeutics in a research report on Thursday, March 19th. They set a “buy” rating and a $35.00 price objective for the company. Wall Street Zen lowered Maplight Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Finally, Weiss Ratings initiated coverage on Maplight Therapeutics in a report on Thursday, January 22nd. They set a “sell (e)” rating for the company.

Insiders Place Their Bets

In other news, Director Timothy John Garnett acquired 14,124 shares of Maplight Therapeutics stock in a transaction on Tuesday, February 10th. The stock was bought at an average cost of $17.89 per share, with a total value of $252,678.36. Following the completion of the purchase, the director owned 14,124 shares of the company’s stock, valued at $252,678.36. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director George Pavlov bought 9,920 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was purchased at an average price of $17.86 per share, with a total value of $177,171.20. Following the completion of the acquisition, the director owned 25,000 shares of the company’s stock, valued at approximately $446,500. This trade represents a 65.78% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 39,124 shares of company stock worth $693,846 and have sold 74,612 shares worth $1,368,065.

Hedge Funds Weigh In On Maplight Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fcpm Iii Services B.V. acquired a new stake in Maplight Therapeutics during the 4th quarter valued at $56,672,000. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Maplight Therapeutics in the fourth quarter worth $49,154,000. Goldman Sachs Group Inc. purchased a new position in shares of Maplight Therapeutics during the fourth quarter valued at $34,026,000. Nan Fung Group Holdings Ltd acquired a new position in Maplight Therapeutics during the fourth quarter valued at $17,060,000. Finally, 5AM Venture Management LLC acquired a new position in Maplight Therapeutics during the fourth quarter valued at $16,687,000.

Maplight Therapeutics Price Performance

NASDAQ MPLT opened at $19.23 on Friday. Maplight Therapeutics has a 12 month low of $12.24 and a 12 month high of $21.55. The company has a market cap of $872.47 million and a P/E ratio of -0.52. The stock has a 50 day simple moving average of $17.83.

Maplight Therapeutics (NASDAQ:MPLT) last issued its earnings results on Thursday, March 26th. The company reported ($2.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.05) by ($1.42).

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.