Maplight Therapeutics, Inc. (NASDAQ:MPLT) Receives Consensus Recommendation of “Buy” from Brokerages

Maplight Therapeutics, Inc. (NASDAQ:MPLT) has been given a consensus recommendation of “Buy” by the seventeen brokerages that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, ten have assigned a buy recommendation and four have issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $34.4167.

A number of research firms have recently issued reports on MPLT. Canaccord Genuity Group reduced their target price on Maplight Therapeutics from $43.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday. Morgan Stanley reissued an “equal weight” rating and issued a $21.00 price objective (down from $34.00) on shares of Maplight Therapeutics in a research note on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Maplight Therapeutics in a report on Monday, July 13th. Craig Hallum reaffirmed a “buy” rating and set a $25.00 price objective on shares of Maplight Therapeutics in a research report on Tuesday. Finally, Benchmark reiterated a “buy” rating on shares of Maplight Therapeutics in a research report on Monday, June 22nd.

Maplight Therapeutics Price Performance

Shares of MPLT opened at $15.02 on Thursday. The company has a 50-day moving average of $31.28 and a two-hundred day moving average of $24.99. The stock has a market cap of $640.12 million and a price-to-earnings ratio of -0.37. Maplight Therapeutics has a one year low of $9.10 and a one year high of $40.43.

Maplight Therapeutics (NASDAQ:MPLT) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($1.34) EPS for the quarter, missing the consensus estimate of ($0.91) by ($0.43). Analysts anticipate that Maplight Therapeutics will post -5.13 earnings per share for the current year.

Insider Buying and Selling

In other news, insider James Woodruff Lillie sold 24,811 shares of Maplight Therapeutics stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $28.76, for a total value of $713,564.36. Following the transaction, the insider owned 243,450 shares of the company’s stock, valued at $7,001,622. This trade represents a 9.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Erin Pennock Foff sold 24,052 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $28.76, for a total transaction of $691,735.52. Following the sale, the insider owned 350,497 shares of the company’s stock, valued at $10,080,293.72. This trade represents a 6.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 379,987 shares of company stock worth $10,644,411. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Strs Ohio acquired a new stake in shares of Maplight Therapeutics during the 4th quarter valued at about $53,000. Blue Owl Capital Holdings LP bought a new stake in shares of Maplight Therapeutics in the 4th quarter worth about $5,745,000. Geode Capital Management LLC acquired a new position in Maplight Therapeutics in the fourth quarter valued at about $6,835,000. Seven Grand Managers LLC acquired a new stake in shares of Maplight Therapeutics during the fourth quarter worth approximately $1,756,000. Finally, Goldman Sachs Group Inc. bought a new stake in Maplight Therapeutics during the 4th quarter worth approximately $34,026,000.

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.