Maplight Therapeutics, Inc. (NASDAQ:MPLT) Stock Has Average Target Price of $29.50 According to Analysts

Maplight Therapeutics, Inc. (NASDAQ:MPLT) has been assigned a consensus rating of “Moderate Buy” from the eighteen brokerages that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, nine have given a buy recommendation and four have assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $29.50.

Several research firms recently commented on MPLT. BMO Capital Markets started coverage on shares of Maplight Therapeutics in a research note on Monday, July 20th. They issued an “outperform” rating and a $46.00 price target on the stock. Raymond James Financial set a $31.00 target price on shares of Maplight Therapeutics in a research note on Friday, August 14th. Needham & Company LLC cut their price objective on shares of Maplight Therapeutics from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Monday, August 31st. HC Wainwright reduced their price objective on Maplight Therapeutics from $45.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, July 28th. Finally, Wall Street Zen raised shares of Maplight Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, October 31st.

Insider Activity at Maplight Therapeutics

In related news, CFO Jonathan Gillis sold 10,167 shares of Maplight Therapeutics stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $8.08, for a total value of $82,149.36. Following the completion of the sale, the chief financial officer owned 142,315 shares of the company’s stock, valued at approximately $1,149,905.20. This trade represents a 6.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Erin Pennock Foff sold 15,355 shares of the firm’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $8.08, for a total value of $124,068.40. Following the completion of the transaction, the insider directly owned 296,906 shares of the company’s stock, valued at $2,399,000.48. The trade was a 4.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 122,974 shares of company stock valued at $990,690 over the last ninety days. Company insiders own 3.80% of the company’s stock.

Institutional Trading of Maplight Therapeutics

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

Maplight Therapeutics Price Performance

NASDAQ MPLT opened at $6.93 on Friday. Maplight Therapeutics has a 1 year low of $6.06 and a 1 year high of $40.43. The company has a fifty day moving average price of $9.91 and a 200-day moving average price of $20.12. The firm has a market cap of $385.14 million and a price-to-earnings ratio of -0.16.

Maplight Therapeutics (NASDAQ:MPLT) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($1.32) EPS for the quarter, beating analysts’ consensus estimates of ($1.40) by $0.08. On average, research analysts anticipate that Maplight Therapeutics will post -5.01 EPS for the current fiscal year.

About Maplight Therapeutics

MapLight Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for neuropsychiatric and neurological disorders. The company’s research is centered on therapies designed to address underlying dysfunction in brain circuits and improve symptoms associated with serious conditions affecting the central nervous system.

MapLight is advancing a pipeline of investigational drug candidates through preclinical and clinical development. Its programs are intended to target significant unmet needs in areas such as schizophrenia and other neuropsychiatric conditions.