Maplight Therapeutics (NASDAQ:MPLT) Hits New 52-Week High – What’s Next?

Maplight Therapeutics, Inc. (NASDAQ:MPLT) reached a new 52-week high on Thursday . The stock traded as high as $33.28 and last traded at $32.13, with a volume of 608806 shares changing hands. The stock had previously closed at $27.62.

Analysts Set New Price Targets

Several equities analysts have weighed in on MPLT shares. Weiss Ratings started coverage on Maplight Therapeutics in a research report on Thursday, January 22nd. They issued a “sell (e)” rating for the company. Canaccord Genuity Group started coverage on Maplight Therapeutics in a research report on Thursday, March 19th. They issued a “buy” rating and a $35.00 target price for the company. TD Cowen started coverage on Maplight Therapeutics in a research report on Tuesday, April 7th. They issued a “buy” rating for the company. Needham & Company LLC started coverage on Maplight Therapeutics in a research report on Wednesday, April 8th. They issued a “buy” rating and a $37.00 target price for the company. Finally, Wall Street Zen downgraded Maplight Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.67.

Maplight Therapeutics Trading Up 16.3%

The company has a market cap of $1.36 billion and a price-to-earnings ratio of -0.81. The firm has a 50-day moving average of $20.63.

Maplight Therapeutics (NASDAQ:MPLT) last issued its quarterly earnings data on Thursday, March 26th. The company reported ($2.47) earnings per share for the quarter, missing the consensus estimate of ($1.05) by ($1.42). On average, research analysts expect that Maplight Therapeutics, Inc. will post -3.87 EPS for the current year.

Insider Transactions at Maplight Therapeutics

In other news, Director Robert C. Malenka sold 11,264 shares of the business’s stock in a transaction that occurred 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. The trade was a 3.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George Pavlov acquired 9,920 shares of Maplight Therapeutics stock in a transaction dated Friday, February 20th. The shares were bought at an average price of $17.86 per share, with a total value of $177,171.20. Following the transaction, the director directly owned 25,000 shares in the company, valued at approximately $446,500. The trade was a 65.78% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders purchased 39,124 shares of company stock worth $693,846 and sold 74,612 shares worth $1,368,065.

Institutional Investors Weigh In On Maplight Therapeutics

Several large investors have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Maplight Therapeutics in the fourth quarter valued at approximately $49,168,000. Invesco Ltd. acquired a new stake in shares of Maplight Therapeutics in the fourth quarter valued at approximately $228,000. Vestal Point Capital LP acquired a new stake in shares of Maplight Therapeutics in the fourth quarter valued at approximately $6,763,000. Tudor Investment Corp ET AL acquired a new stake in shares of Maplight Therapeutics in the fourth quarter valued at approximately $840,000. Finally, Orbimed Advisors LLC acquired a new stake in shares of Maplight Therapeutics in the fourth quarter valued at approximately $952,000.

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.