Maplight Therapeutics (NASDAQ:MPLT) Trading Down 8.5% – Here’s Why

Shares of Maplight Therapeutics, Inc. (NASDAQ:MPLT) dropped 8.5% during mid-day trading on Wednesday . The stock traded as low as $13.50 and last traded at $13.60. Approximately 126,550 shares changed hands during trading, a decline of 52% from the average daily volume of 265,938 shares. The stock had previously closed at $14.87.

Analysts Set New Price Targets

MPLT has been the topic of several recent research reports. Stifel Nicolaus initiated coverage on Maplight Therapeutics in a research report on Friday. They set a “buy” rating and a $28.00 price objective on the stock. Jefferies Financial Group assumed coverage on shares of Maplight Therapeutics in a report on Friday. They issued a “buy” rating and a $32.00 price objective for the company. Wall Street Zen raised shares of Maplight Therapeutics to a “hold” rating in a research note on Wednesday, November 5th. Leerink Partners assumed coverage on shares of Maplight Therapeutics in a research note on Friday. They issued an “outperform” rating and a $30.00 price target for the company. Finally, Morgan Stanley initiated coverage on Maplight Therapeutics in a research note on Friday. They set an “overweight” rating and a $34.00 price objective on the stock. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $31.00.

Maplight Therapeutics Stock Performance

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.