Maplight Therapeutics (NASDAQ:MPLT) Upgraded by UBS Group to “Strong-Buy” Rating

UBS Group upgraded shares of Maplight Therapeutics (NASDAQ:MPLT) to a strong-buy rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

MPLT has been the topic of a number of other research reports. Wall Street Zen downgraded Maplight Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. HC Wainwright reiterated a “buy” rating and issued a $45.00 price objective on shares of Maplight Therapeutics in a report on Thursday. Craig Hallum assumed coverage on Maplight Therapeutics in a research note on Thursday, May 21st. They set a “buy” rating and a $43.00 target price for the company. Canaccord Genuity Group assumed coverage on Maplight Therapeutics in a research note on Thursday, March 19th. They set a “buy” rating and a $35.00 target price for the company. Finally, Needham & Company LLC assumed coverage on Maplight Therapeutics in a research note on Wednesday, April 8th. They set a “buy” rating and a $37.00 target price for the company. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Maplight Therapeutics has an average rating of “Buy” and a consensus target price of $36.89.

Maplight Therapeutics Price Performance

NASDAQ MPLT opened at $29.78 on Tuesday. Maplight Therapeutics has a 1-year low of $12.24 and a 1-year high of $33.28. The company has a market cap of $1.27 billion and a PE ratio of -0.73. The stock’s 50 day simple moving average is $25.99 and its 200-day simple moving average is $20.39.

Maplight Therapeutics (NASDAQ:MPLT) last announced 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). On average, equities research analysts anticipate that Maplight Therapeutics will post -4.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other Maplight Therapeutics news, insider Erin Pennock Foff sold 4,438 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $28.54, for a total transaction of $126,660.52. Following the completion of the sale, the insider owned 346,059 shares of the company’s stock, valued at $9,876,523.86. This trade represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vishwas Setia sold 10,564 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $28.24, for a total value of $298,327.36. Following the sale, the chief financial officer directly owned 356,256 shares of the company’s stock, valued at approximately $10,060,669.44. This trade represents a 2.88% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 495,244 shares of company stock worth $14,079,461 in the last three months. 3.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Fcpm Iii Services B.V. purchased a new position in shares of Maplight Therapeutics during the fourth quarter worth $56,672,000. T. Rowe Price Investment Management Inc. purchased a new position in shares of Maplight Therapeutics during the fourth quarter worth $49,154,000. Goldman Sachs Group Inc. purchased a new position in shares of Maplight Therapeutics during the fourth quarter worth $34,026,000. Nan Fung Group Holdings Ltd purchased a new position in shares of Maplight Therapeutics during the fourth quarter worth $17,060,000. Finally, 5AM Venture Management LLC purchased a new position in shares of Maplight Therapeutics during the fourth quarter worth $16,687,000.

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.