Maplight Therapeutics, Inc. (NASDAQ:MPLT) Receives $29.67 Average Target Price from Brokerages

Shares of Maplight Therapeutics, Inc. (NASDAQ:MPLT) have earned a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and four have issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $29.6667.

A number of research firms have weighed in on MPLT. BMO Capital Markets started coverage on shares of Maplight Therapeutics in a research report on Monday, July 20th. They issued an “outperform” rating and a $46.00 price target for the company. Jefferies Financial Group restated a “buy” rating on shares of Maplight Therapeutics in a research note on Monday, July 27th. Wall Street Zen raised shares of Maplight Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Raymond James Financial set a $31.00 price target on Maplight Therapeutics in a research note on Friday, August 14th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Maplight Therapeutics in a report on Monday, July 13th.

Insider Buying and Selling at Maplight Therapeutics

In other Maplight Therapeutics news, Director Troy Cox bought 15,620 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was purchased at an average cost of $9.52 per share, with a total value of $148,702.40. Following the completion of the acquisition, the director owned 15,620 shares in the company, valued at $148,702.40. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James Woodruff Lillie sold 22,082 shares of Maplight Therapeutics stock in a transaction on 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 $2,537,845.20. The trade was a 9.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Maplight Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc bought a new stake in Maplight Therapeutics during the 2nd quarter valued at about $37,000. Strs Ohio bought a new position in Maplight Therapeutics in the 4th quarter worth about $53,000. Bank of New York Mellon Corp increased its position in shares of Maplight Therapeutics by 10.1% during the first quarter. Bank of New York Mellon Corp now owns 39,465 shares of the company’s stock worth $802,000 after acquiring an additional 3,608 shares during the period. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Maplight Therapeutics during the fourth quarter worth approximately $70,000. Finally, California State Teachers Retirement System raised its stake in shares of Maplight Therapeutics by 386.0% during the second quarter. California State Teachers Retirement System now owns 5,161 shares of the company’s stock valued at $185,000 after acquiring an additional 4,099 shares in the last quarter.

Maplight Therapeutics Trading Up 0.5%

Shares of MPLT opened at $12.60 on Monday. The firm has a market cap of $584.36 million and a PE ratio of -0.30. The firm has a fifty day simple moving average of $23.97 and a two-hundred day simple moving average of $24.09. Maplight Therapeutics has a 1-year low of $9.10 and a 1-year high of $40.43.

Maplight Therapeutics (NASDAQ:MPLT) last announced its earnings results on Thursday, August 13th. The company reported ($1.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.40) by $0.08. As a group, research analysts forecast that Maplight Therapeutics will post -5.12 EPS for the current fiscal year.

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.