Wall Street Zen Downgrades Maplight Therapeutics (NASDAQ:MPLT) to Sell

Maplight Therapeutics (NASDAQ:MPLT) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Several other research analysts also recently commented on MPLT. Jefferies Financial Group started coverage on shares of Maplight Therapeutics in a research note on Friday, November 21st. They issued a “buy” rating and a $32.00 target price on the stock. Leerink Partners assumed coverage on shares of Maplight Therapeutics in a research report on Friday, November 21st. They set an “outperform” rating and a $30.00 price target for the company. Canaccord Genuity Group assumed coverage on shares of Maplight Therapeutics in a research note on Thursday. They set a “buy” rating and a $35.00 price objective for the company. Morgan Stanley assumed coverage on shares of Maplight Therapeutics in a report on Friday, November 21st. They set an “overweight” rating and a $34.00 target price for the company. Finally, Stifel Nicolaus assumed coverage on Maplight Therapeutics in a research note on Friday, November 21st. They issued a “buy” rating and a $28.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.80.

Maplight Therapeutics Stock Up 0.4%

Shares of Maplight Therapeutics stock opened at $17.56 on Friday. Maplight Therapeutics has a one year low of $12.24 and a one year high of $21.55. The stock has a 50 day moving average of $17.88. The stock has a market cap of $796.70 million and a PE ratio of -0.47.

Insider Buying and Selling

In related news, Director Timothy John Garnett purchased 14,124 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The shares were acquired at an average price of $17.89 per share, for a total transaction of $252,678.36. Following the completion of the acquisition, the director directly owned 14,124 shares in the company, valued at approximately $252,678.36. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert C. Malenka sold 11,264 shares of Maplight Therapeutics stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $18.42, for a total transaction of $207,482.88. Following the completion of the sale, the director owned 325,795 shares in the company, valued at approximately $6,001,143.90. This trade represents a 3.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders acquired 39,124 shares of company stock valued at $693,846 and sold 74,612 shares valued at $1,368,065.

Hedge Funds Weigh In On Maplight Therapeutics

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

Maplight Therapeutics Company Profile

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.