Maplight Therapeutics (NASDAQ:MPLT) Rating Increased to Strong-Buy at UBS Group

Maplight Therapeutics (NASDAQ:MPLT) was upgraded by analysts at UBS Group to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Several other analysts have also recently issued reports on MPLT. HC Wainwright reissued a “buy” rating and issued a $45.00 target price on shares of Maplight Therapeutics in a research note on Thursday. Canaccord Genuity Group assumed coverage on Maplight Therapeutics in a research note on Thursday, March 19th. They issued a “buy” rating and a $35.00 target price on the stock. Lifesci Capital raised shares of Maplight Therapeutics to a “strong-buy” rating in a research report on Thursday, May 14th. Wall Street Zen downgraded shares of Maplight Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Finally, Craig Hallum assumed coverage on shares of Maplight Therapeutics in a research report on Thursday, May 21st. They set a “buy” rating and a $43.00 price objective on the stock. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $36.89.

Maplight Therapeutics Price Performance

NASDAQ MPLT opened at $29.78 on Tuesday. The stock has a market capitalization of $1.27 billion and a PE ratio of -0.73. Maplight Therapeutics has a 1 year low of $12.24 and a 1 year high of $33.28. The business’s 50-day moving average is $25.99 and its 200 day moving average is $20.39.

Maplight Therapeutics (NASDAQ:MPLT) last posted its earnings results on Thursday, May 14th. The company reported ($1.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.43). As a group, equities research analysts anticipate that Maplight Therapeutics will post -4.45 earnings per share for the current year.

Insider Buying and Selling at Maplight Therapeutics

In other Maplight Therapeutics news, insider James Woodruff Lillie sold 24,811 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $28.76, for a total transaction of $713,564.36. Following the transaction, the insider directly owned 243,450 shares of the company’s stock, valued at approximately $7,001,622. The trade was a 9.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Gillis sold 51,900 shares of the business’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $29.74, for a total transaction of $1,543,506.00. Following the transaction, the insider directly owned 199,154 shares in the company, valued at approximately $5,922,839.96. The trade was a 20.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 495,244 shares of company stock worth $14,079,461. 3.80% of the stock is owned by corporate insiders.

Institutional Trading of Maplight Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Strs Ohio purchased a new stake in shares of Maplight Therapeutics in the 4th quarter worth about $53,000. Bank of New York Mellon Corp grew its position in shares of Maplight Therapeutics by 10.1% in the 1st quarter. Bank of New York Mellon Corp now owns 39,465 shares of the company’s stock worth $802,000 after buying an additional 3,608 shares during the period. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Maplight Therapeutics in the 4th quarter worth about $70,000. New York State Common Retirement Fund purchased a new stake in shares of Maplight Therapeutics in the 4th quarter worth about $93,000. Finally, MetLife Investment Management LLC purchased a new stake in shares of Maplight Therapeutics in the 4th quarter worth about $172,000.

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.