Brokerages Set Maplight Therapeutics, Inc. (NASDAQ:MPLT) PT at $29.67

Shares of Maplight Therapeutics, Inc. (NASDAQ:MPLT) have been assigned a consensus rating of “Moderate Buy” from the seventeen brokerages that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, nine have issued a buy recommendation and four have issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $29.6667.

MPLT has been the topic of several recent analyst reports. HC Wainwright decreased their price target on Maplight Therapeutics from $45.00 to $26.00 and set a “buy” rating on the stock in a research note on Tuesday, July 28th. Wall Street Zen upgraded Maplight Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. UBS Group cut shares of Maplight Therapeutics from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $52.00 to $13.00 in a research report on Monday, August 10th. BMO Capital Markets began coverage on Maplight Therapeutics in a report on Monday, July 20th. They set an “outperform” rating and a $46.00 price objective for the company. Finally, Raymond James Financial set a $31.00 target price on shares of Maplight Therapeutics in a research report on Friday, August 14th.

Insider Activity

In other news, insider James Woodruff Lillie sold 22,082 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $12.54, for a total transaction of $276,908.28. Following the completion of the transaction, the insider directly owned 202,380 shares in the company, valued at approximately $2,537,845.20. The trade was a 9.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Troy Cox purchased 15,620 shares of the stock in a transaction dated Tuesday, July 28th. The stock was bought at an average cost of $9.52 per share, with a total value of $148,702.40. Following the completion of the purchase, the director owned 15,620 shares in the company, valued at $148,702.40. The trade was a ? increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 3.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Maplight Therapeutics

Several hedge funds have recently bought and sold shares of the company. Legal & General Group Plc acquired a new stake in Maplight Therapeutics during the 2nd quarter worth $37,000. Strs Ohio acquired a new position in Maplight Therapeutics in the fourth quarter valued at about $53,000. Bank of New York Mellon Corp grew its stake in Maplight Therapeutics by 10.1% in the first quarter. Bank of New York Mellon Corp now owns 39,465 shares of the company’s stock valued at $802,000 after acquiring an additional 3,608 shares during the period. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Maplight Therapeutics in the fourth quarter worth about $70,000. Finally, California State Teachers Retirement System increased its holdings in shares of Maplight Therapeutics by 386.0% in the second quarter. California State Teachers Retirement System now owns 5,161 shares of the company’s stock worth $185,000 after acquiring an additional 4,099 shares in the last quarter.

Maplight Therapeutics Price Performance

Shares of MPLT opened at $12.60 on Monday. The company has a 50-day moving average price of $23.97 and a two-hundred day moving average price of $24.13. The stock has a market cap of $584.39 million and a price-to-earnings ratio of -0.30. Maplight Therapeutics has a 12 month low of $9.10 and a 12 month high of $40.43.

Maplight Therapeutics (NASDAQ:MPLT) last released its quarterly earnings data on Thursday, August 13th. The company reported ($1.32) earnings per share for the quarter, beating the consensus estimate of ($1.40) by $0.08. Equities research analysts expect that Maplight Therapeutics will post -5.12 EPS for the current fiscal year.

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.