Maplight Therapeutics (NASDAQ:MPLT) Stock Rating Upgraded by HC Wainwright

Maplight Therapeutics (NASDAQ:MPLT) was upgraded by analysts at HC Wainwright to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other research firms also recently weighed in on MPLT. Canaccord Genuity Group started coverage on shares of Maplight Therapeutics in a research note on Thursday, March 19th. They issued a “buy” rating and a $35.00 price target on the stock. Weiss Ratings started coverage on shares of Maplight Therapeutics in a report on Thursday, January 22nd. They issued a “sell (e)” rating for the company. TD Cowen started coverage on shares of Maplight Therapeutics in a report on Tuesday, April 7th. They issued a “buy” rating for the company. Needham & Company LLC started coverage on shares of Maplight Therapeutics in a report on Wednesday, April 8th. They issued a “buy” rating and a $37.00 price objective for the company. Finally, Wall Street Zen lowered shares of Maplight Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.43.

Maplight Therapeutics Trading Down 6.8%

MPLT opened at $28.61 on Monday. The firm has a 50 day moving average of $22.19. Maplight Therapeutics has a 1-year low of $12.24 and a 1-year high of $33.28. The firm has a market cap of $1.21 billion and a P/E ratio of -0.72.

Maplight Therapeutics (NASDAQ:MPLT) last posted its quarterly earnings results on Thursday, March 26th. The company reported ($2.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.05) by ($1.42). On average, equities analysts predict that Maplight Therapeutics will post -3.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Timothy John Garnett purchased 14,124 shares of the stock in a transaction on Tuesday, February 10th. The stock was purchased at an average price of $17.89 per share, for a total transaction of $252,678.36. Following the acquisition, the director owned 14,124 shares in the company, valued at $252,678.36. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert C. Malenka sold 12,116 shares of the firm’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $18.21, for a total transaction of $220,632.36. Following the transaction, the director owned 339,254 shares of the company’s stock, valued at approximately $6,177,815.34. The trade was a 3.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have purchased 39,124 shares of company stock worth $693,846 and have sold 148,431 shares worth $4,040,428.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Fcpm Iii Services B.V. bought a new position in Maplight Therapeutics during the 4th quarter worth approximately $56,672,000. T. Rowe Price Investment Management Inc. bought a new position in Maplight Therapeutics during the 4th quarter worth approximately $49,154,000. Goldman Sachs Group Inc. bought a new position in Maplight Therapeutics during the 4th quarter worth approximately $34,026,000. Nan Fung Group Holdings Ltd bought a new position in Maplight Therapeutics during the 4th quarter worth approximately $17,060,000. Finally, 5AM Venture Management LLC bought a new position in Maplight Therapeutics during the 4th quarter worth approximately $16,687,000.

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.