Maplight Therapeutics, Inc. (NASDAQ:MPLT) Given Average Rating of “Moderate Buy” by Analysts

Shares of Maplight Therapeutics, Inc. (NASDAQ:MPLT) have been assigned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $32.6667.

A number of research analysts have recently issued reports on the company. Needham & Company LLC assumed coverage on Maplight Therapeutics in a report on Wednesday, April 8th. They issued a “buy” rating and a $37.00 target price on the stock. TD Cowen began coverage on shares of Maplight Therapeutics in a research report on Tuesday, April 7th. They issued a “buy” rating on the stock. Wall Street Zen cut shares of Maplight Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Weiss Ratings initiated coverage on shares of Maplight Therapeutics in a research note on Thursday, January 22nd. They issued a “sell (e)” rating for the company. Finally, Canaccord Genuity Group initiated coverage on shares of Maplight Therapeutics in a research note on Thursday, March 19th. They set a “buy” rating and a $35.00 price target on the stock.

Maplight Therapeutics Stock Up 2.1%

Shares of MPLT opened at $28.95 on Tuesday. Maplight Therapeutics has a fifty-two week low of $12.24 and a fifty-two week high of $31.13. The business’s 50-day simple moving average is $20.15. The firm has a market capitalization of $1.23 billion and a P/E ratio of -0.73.

Maplight Therapeutics (NASDAQ:MPLT) last issued its quarterly earnings results on Thursday, March 26th. The company reported ($2.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.05) by ($1.42). As a group, sell-side analysts forecast that Maplight Therapeutics will post -3.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Maplight Therapeutics

In other Maplight Therapeutics news, Director Timothy John Garnett purchased 14,124 shares of the stock in a transaction on Tuesday, February 10th. The stock was bought at an average price of $17.89 per share, for a total transaction of $252,678.36. Following the acquisition, the director directly owned 14,124 shares of the company’s stock, valued at $252,678.36. This represents a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert C. Malenka sold 11,264 shares of the firm’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $18.42, for a total value of $207,482.88. Following the completion of the transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have acquired 39,124 shares of company stock valued at $693,846 and have sold 74,612 shares valued at $1,368,065.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Nuveen LLC purchased a new position in shares of Maplight Therapeutics during the 4th quarter valued at approximately $355,000. Ghisallo Capital Management LLC acquired a new stake in shares of Maplight Therapeutics in the 4th quarter valued at about $351,000. Oxford Asset Management LLP acquired a new position in Maplight Therapeutics in the fourth quarter worth about $312,000. Millennium Management LLC acquired a new stake in shares of Maplight Therapeutics during the 4th quarter valued at approximately $245,000. Finally, New York State Common Retirement Fund bought a new position in shares of Maplight Therapeutics in the 4th quarter worth about $93,000.

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.