Maplight Therapeutics (NASDAQ:MPLT) Hits New 1-Year High – Here’s Why

Shares of Maplight Therapeutics, Inc. (NASDAQ:MPLT) hit a new 52-week high on Thursday . The stock traded as high as $21.76 and last traded at $21.1760, with a volume of 28018 shares changing hands. The stock had previously closed at $20.83.

Analysts Set New Price Targets

Several equities research analysts have commented on MPLT shares. Canaccord Genuity Group began coverage on Maplight Therapeutics in a research report on Thursday, March 19th. They issued a “buy” rating and a $35.00 price objective on the stock. Wall Street Zen lowered shares of Maplight Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Finally, Weiss Ratings began coverage on shares of Maplight Therapeutics in a report on Thursday, January 22nd. They set a “sell (e)” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Maplight Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.80.

Maplight Therapeutics Price Performance

The firm’s 50-day moving average price is $18.15. The firm has a market cap of $898.37 million and a PE ratio of -0.53.

Maplight Therapeutics (NASDAQ:MPLT) last released its quarterly earnings results on Thursday, March 26th. The company reported ($2.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.05) by ($1.42).

Insider Transactions at Maplight Therapeutics

In other Maplight Therapeutics news, Director Timothy John Garnett bought 14,124 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The shares were purchased at an average price of $17.89 per share, for a total transaction of $252,678.36. Following the transaction, the director directly owned 14,124 shares of the company’s stock, valued at approximately $252,678.36. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director George Pavlov purchased 10,658 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The stock was bought at an average cost of $17.48 per share, for a total transaction of $186,301.84. Following the purchase, the director directly owned 10,658 shares in the company, valued at $186,301.84. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders acquired 39,124 shares of company stock valued at $693,846 and sold 74,612 shares valued at $1,368,065.

Institutional Trading of Maplight Therapeutics

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

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.