Maplight Therapeutics, Inc. (NASDAQ:MPLT) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Maplight Therapeutics, Inc. (NASDAQ:MPLT) has earned a consensus recommendation of “Moderate Buy” from the eighteen research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, nine have given a buy recommendation and four have issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $29.50.

A number of research analysts recently commented on MPLT shares. HC Wainwright dropped their price target on Maplight Therapeutics from $45.00 to $26.00 and set a “buy” rating for the company in a research note on Tuesday, July 28th. Jefferies Financial Group reiterated a “buy” rating on shares of Maplight Therapeutics in a research note on Monday, July 27th. Wolfe Research reissued an “outperform” rating and issued a $30.00 target price on shares of Maplight Therapeutics in a report on Monday, July 27th. Wall Street Zen cut shares of Maplight Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 3rd. Finally, BMO Capital Markets initiated coverage on shares of Maplight Therapeutics in a report on Monday, July 20th. They set an “outperform” rating and a $46.00 price target for the company.

Insiders Place Their Bets

In other Maplight Therapeutics news, insider Erin Pennock Foff sold 15,355 shares of the company’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $8.08, for a total transaction of $124,068.40. Following the completion of the sale, the insider directly owned 296,906 shares in the company, valued at $2,399,000.48. This represents a 4.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Anatol Kreitzer sold 12,248 shares of the firm’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $7.84, for a total value of $96,024.32. Following the completion of the sale, the insider directly owned 168,678 shares in the company, valued at approximately $1,322,435.52. This represents a 6.77% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 145,056 shares of company stock valued at $1,267,599 over the last three months. 3.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Maplight Therapeutics

Institutional investors have recently modified their holdings of the business. Legal & General Group Plc bought a new stake in shares of Maplight Therapeutics during the 2nd quarter worth $37,000. The Manufacturers Life Insurance Company acquired a new position in Maplight Therapeutics during the second quarter worth about $252,000. Deutsche Bank AG acquired a new position in Maplight Therapeutics during the second quarter worth about $370,000. ADAR1 Capital Management LLC bought a new position in shares of Maplight Therapeutics in the second quarter worth about $950,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Maplight Therapeutics in the second quarter worth about $1,090,000.

Maplight Therapeutics Stock Up 3.9%

Shares of NASDAQ MPLT opened at $8.00 on Tuesday. The business has a fifty day moving average price of $11.16 and a two-hundred day moving average price of $22.31. Maplight Therapeutics has a fifty-two week low of $7.46 and a fifty-two week high of $40.43.

Maplight Therapeutics (NASDAQ:MPLT) last released its earnings results on Thursday, August 13th. The company reported ($1.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.40) by $0.08. As a group, equities analysts anticipate that Maplight Therapeutics will post -5.01 EPS for the current fiscal year.

About Maplight Therapeutics

MapLight Therapeutics is a clinical-stage biopharmaceutical company developing medicines for neuropsychiatric and neurological disorders. The company focuses on conditions for which existing treatments may provide limited benefits or cause significant side effects.

MapLight uses a neuroscience-focused drug discovery and development approach to identify therapies intended to address the underlying biology of central nervous system disorders. Its pipeline includes investigational small-molecule treatments being studied for conditions such as schizophrenia and other serious mental health disorders.

The company conducts research and clinical development in the United States.