Maplight Therapeutics (NASDAQ:MPLT) Issues Earnings Results, Beats Estimates By $0.08 EPS

Maplight Therapeutics (NASDAQ:MPLT) posted its quarterly earnings results on Thursday. The company reported ($1.32) earnings per share for the quarter, topping the consensus estimate of ($1.40) by $0.08, FiscalAI reports.

Maplight Therapeutics Price Performance

Shares of Maplight Therapeutics stock traded up $0.20 during trading hours on Thursday, reaching $11.58. The company’s stock had a trading volume of 501,011 shares, compared to its average volume of 455,853. The firm has a 50 day moving average price of $28.01 and a 200-day moving average price of $24.62. Maplight Therapeutics has a one year low of $9.10 and a one year high of $40.43. The stock has a market cap of $493.54 million and a P/E ratio of -0.28.

Insider Activity at Maplight Therapeutics

In related news, insider James Woodruff Lillie sold 22,082 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $12.54, for a total value of $276,908.28. Following the completion of the transaction, the insider owned 202,380 shares of the company’s stock, valued at approximately $2,537,845.20. This trade represents a 9.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher A. Kroeger sold 118,235 shares of Maplight Therapeutics stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $27.19, for a total value of $3,214,809.65. Following the completion of the transaction, the chief executive officer owned 1,394,094 shares of the company’s stock, valued at approximately $37,905,415.86. This represents a 7.82% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. ADAR1 Capital Management LLC purchased a new position in shares of Maplight Therapeutics during the 1st quarter worth about $7,622,000. Sanofi bought a new position in Maplight Therapeutics during the 4th quarter valued at about $16,020,000. Fcpm Iii Services B.V. purchased a new stake in Maplight Therapeutics in the 4th quarter worth about $56,672,000. 5AM Venture Management LLC purchased a new stake in shares of Maplight Therapeutics in the fourth quarter worth approximately $16,687,000. Finally, Nan Fung Group Holdings Ltd bought a new stake in shares of Maplight Therapeutics during the 4th quarter worth approximately $17,060,000.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MPLT. UBS Group cut shares of Maplight Therapeutics from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $52.00 to $13.00 in a research report on Monday. BMO Capital Markets initiated coverage on shares of Maplight Therapeutics in a research report on Monday, July 20th. They set an “outperform” rating and a $46.00 target price for the company. Needham & Company LLC raised their target price on shares of Maplight Therapeutics from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, July 10th. HC Wainwright decreased their price target on shares of Maplight Therapeutics from $45.00 to $26.00 and set a “buy” rating on the stock in a research note on Tuesday, July 28th. Finally, Stifel Nicolaus increased their price objective on shares of Maplight Therapeutics from $28.00 to $36.00 and gave the company a “buy” rating in a report on Monday, June 1st. Four investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Maplight Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.17.

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.