Troy Cox Acquires 15,620 Shares of Maplight Therapeutics (NASDAQ:MPLT) Stock

Maplight Therapeutics, Inc. (NASDAQ:MPLT) Director Troy Cox acquired 15,620 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was purchased at an average price of $9.52 per share, for a total transaction of $148,702.40. Following the completion of the transaction, the director directly owned 15,620 shares in the company, valued at approximately $148,702.40. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Maplight Therapeutics Stock Up 22.0%

MPLT stock opened at $15.02 on Thursday. Maplight Therapeutics, Inc. has a twelve month low of $9.10 and a twelve month high of $40.43. The company has a market cap of $640.12 million and a P/E ratio of -0.37. The business has a fifty day moving average of $31.28 and a 200-day moving average of $24.99.

Maplight Therapeutics (NASDAQ:MPLT) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($1.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.43). As a group, equities research analysts anticipate that Maplight Therapeutics, Inc. will post -5.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on MPLT. Needham & Company LLC boosted their price target on shares of Maplight Therapeutics from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. HC Wainwright lowered their target price on shares of Maplight Therapeutics from $45.00 to $26.00 and set a “buy” rating for the company in a report on Tuesday. Wolfe Research reiterated an “outperform” rating and set a $30.00 target price on shares of Maplight Therapeutics in a research report on Monday. Stifel Nicolaus increased their price target on Maplight Therapeutics from $28.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, June 1st. Finally, TD Cowen began coverage on Maplight Therapeutics in a research report on Tuesday, April 7th. They issued a “buy” rating on the stock. Four investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $34.42.

Institutional Trading of Maplight Therapeutics

A number of hedge funds have recently modified their holdings of MPLT. Strs Ohio bought a new position in Maplight Therapeutics during the 4th quarter worth approximately $53,000. Police & Firemen s Retirement System of New Jersey bought a new stake in Maplight Therapeutics in the fourth quarter valued at approximately $70,000. New York State Common Retirement Fund acquired a new stake in Maplight Therapeutics in the fourth quarter worth $93,000. MetLife Investment Management LLC acquired a new stake in Maplight Therapeutics in the fourth quarter worth $172,000. Finally, Walleye Capital LLC bought a new position in shares of Maplight Therapeutics during the fourth quarter worth $205,000.

Maplight Therapeutics News Roundup

Here are the key news stories impacting Maplight Therapeutics this week:

• Positive Sentiment: Director Troy Cox purchased 15,620 shares at an average price of $9.52, investing approximately $148,700. The insider purchase may signal confidence after the stock’s sharp decline. SEC insider trading filing
• Positive Sentiment: The 210/3 mg twice-daily arm of the ZEPHYR trial met its primary endpoint, showing statistically significant improvement in total PANSS scores versus placebo, along with reported benefits in cognition and symptoms. Maplight plans another potentially registrational trial and an FDA End-of-Phase 2 meeting. Maplight ZEPHYR trial results
• Positive Sentiment: Despite major target reductions, HC Wainwright maintained a “buy” rating with a $26 target, and Morgan Stanley’s $21 target remained above the recent trading level. These targets suggest analysts still see value if the twice-daily program advances.
• Neutral Sentiment: The successful twice-daily dose preserves a development path, but Maplight must replicate the results in another study before seeking regulatory approval. The company remains an unprofitable clinical-stage biotechnology firm.
• Negative Sentiment: The once-daily arm failed to produce statistically significant symptom improvement. The setback reduces confidence in a more convenient dosing option, damaged the program’s risk profile and erased more than $1 billion in market value during the initial selloff. Reuters trial report
• Negative Sentiment: Analysts sharply lowered their expectations: HC Wainwright cut its target from $45 to $26, while Morgan Stanley reduced its target from $34 to $21. A reported investor-fraud investigation announcement adds further uncertainty, although it does not establish wrongdoing.

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.