Maplight Therapeutics (NASDAQ:MPLT) Releases Earnings Results

Maplight Therapeutics (NASDAQ:MPLT) posted its quarterly earnings results on Thursday. The company reported ($1.32) EPS for the quarter, topping the consensus estimate of ($1.40) by $0.08, FiscalAI reports.

Maplight Therapeutics Price Performance

Shares of Maplight Therapeutics stock traded up $0.17 during trading hours on Friday, hitting $11.75. The company had a trading volume of 451,767 shares, compared to its average volume of 1,487,924. The company’s 50-day moving average is $27.31 and its two-hundred day moving average is $24.49. Maplight Therapeutics has a twelve month low of $9.10 and a twelve month high of $40.43. The company has a market cap of $500.79 million and a P/E ratio of -0.28.

Analyst Ratings Changes

MPLT has been the subject of several research analyst reports. Canaccord Genuity Group set a $21.00 target price on shares of Maplight Therapeutics in a research note on Friday. Raymond James Financial set a $31.00 price target on shares of Maplight Therapeutics in a research report on Friday. BMO Capital Markets assumed coverage on shares of Maplight Therapeutics in a research report on Monday, July 20th. They issued an “outperform” rating and a $46.00 price target for the company. Benchmark reaffirmed a “buy” rating on shares of Maplight Therapeutics in a research report on Monday, June 22nd. Finally, Needham & Company LLC boosted their price target on shares of Maplight Therapeutics from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Four analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $29.67.

Insider Activity

In related news, insider James Woodruff Lillie sold 22,082 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $12.54, for a total value of $276,908.28. Following the completion of the sale, the insider directly owned 202,380 shares of the company’s stock, valued at $2,537,845.20. This represents a 9.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Troy Cox purchased 15,620 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were purchased at an average cost of $9.52 per share, for a total transaction of $148,702.40. Following the transaction, the director owned 15,620 shares of the company’s stock, valued at $148,702.40. This trade represents a ? increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 3.80% of the company’s stock.

Institutional Trading of Maplight Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Fcpm Iii Services B.V. acquired a new stake in shares of Maplight Therapeutics during the fourth quarter worth $56,672,000. T. Rowe Price Investment Management Inc. acquired a new position in shares of Maplight Therapeutics during the fourth quarter worth about $49,154,000. Goldman Sachs Group Inc. acquired a new stake in Maplight Therapeutics in the fourth quarter valued at about $34,026,000. BlackRock Inc. purchased a new position in shares of Maplight Therapeutics during the 2nd quarter worth approximately $36,741,000. Finally, Nan Fung Group Holdings Ltd purchased a new stake in shares of Maplight Therapeutics in the fourth quarter valued at approximately $17,060,000.

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.