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

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

Other analysts also recently issued reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of Maplight Therapeutics in a research report on Monday, July 13th. Craig Hallum reiterated a “buy” rating and issued a $25.00 target price on shares of Maplight Therapeutics in a research report on Tuesday, July 28th. Morgan Stanley reissued an “equal weight” rating and issued a $21.00 target price (down from $34.00) on shares of Maplight Therapeutics in a report on Tuesday, July 28th. BMO Capital Markets began 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. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $30.00 price target on shares of Maplight Therapeutics in a report on Monday, July 27th. Four analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $29.50.

Maplight Therapeutics Price Performance

Shares of NASDAQ:MPLT opened at $9.82 on Friday. Maplight Therapeutics has a 1 year low of $9.10 and a 1 year high of $40.43. The stock has a market capitalization of $545.80 million and a price-to-earnings ratio of -0.23. The company’s 50 day simple moving average is $12.08 and its 200 day simple moving average is $23.05.

Maplight Therapeutics (NASDAQ:MPLT) last released its earnings results on Thursday, August 13th. The company reported ($1.32) earnings per share for the quarter, topping the consensus estimate of ($1.40) by $0.08. As a group, analysts anticipate that Maplight Therapeutics will post -5.12 EPS for the current fiscal year.

Insider Transactions at Maplight Therapeutics

In other Maplight Therapeutics news, insider James Lillie sold 22,082 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $12.54, for a total value of $276,908.28. Following the completion of the transaction, the insider directly owned 202,380 shares in the company, valued at approximately $2,537,845.20. This trade represents a 9.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Troy Cox purchased 15,620 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were purchased at an average cost of $9.52 per share, for a total transaction of $148,702.40. Following the completion of the purchase, the director directly owned 15,620 shares of the company’s stock, valued at approximately $148,702.40. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. 3.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Maplight Therapeutics

A number of institutional investors have recently added to or reduced their stakes in MPLT. Wellington Management Group LLP increased its position in Maplight Therapeutics by 12.4% in the 2nd quarter. Wellington Management Group LLP now owns 51,917 shares of the company’s stock valued at $1,861,000 after acquiring an additional 5,709 shares during the period. Bank of America Corp DE acquired a new position in shares of Maplight Therapeutics during the second quarter worth $1,952,000. Freestone Grove Partners LP bought a new stake in shares of Maplight Therapeutics in the second quarter worth $6,054,000. 5AM Venture Management LLC bought a new stake in shares of Maplight Therapeutics in the second quarter worth $34,048,394. Finally, ADAR1 Capital Management LLC acquired a new stake in Maplight Therapeutics in the second quarter valued at $950,000.

Maplight Therapeutics Company Profile

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.