HC Wainwright Cuts Maplight Therapeutics (NASDAQ:MPLT) Price Target to $26.00

Maplight Therapeutics (NASDAQ:MPLT) had its price objective lowered by HC Wainwright from $45.00 to $26.00 in a report published on Tuesday morning, Marketbeat Ratings reports. HC Wainwright currently has a buy rating on the stock.

A number of other equities research analysts have also weighed in on the company. Jefferies Financial Group reissued a “buy” rating on shares of Maplight Therapeutics in a research note on Monday. Canaccord Genuity Group increased their price objective on Maplight Therapeutics from $35.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Raymond James Financial started coverage on shares of Maplight Therapeutics in a research note on Wednesday, June 24th. They issued a “strong-buy” rating and a $46.00 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. Finally, Wolfe Research restated an “outperform” rating and issued a $30.00 price objective on shares of Maplight Therapeutics in a research report on Monday. Four analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $34.42.

Maplight Therapeutics Stock Performance

Shares of MPLT opened at $14.03 on Tuesday. Maplight Therapeutics has a fifty-two week low of $9.10 and a fifty-two week high of $40.43. The firm has a market cap of $597.96 million and a price-to-earnings ratio of -0.34. The firm has a 50 day moving average price of $30.98 and a 200-day moving average price of $24.96.

Maplight Therapeutics (NASDAQ:MPLT) last issued its earnings results on Thursday, May 14th. The company reported ($1.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.43). As a group, equities research analysts predict that Maplight Therapeutics will post -5.22 earnings per share for the current year.

Insiders Place Their Bets

In other Maplight Therapeutics news, CEO Christopher A. Kroeger sold 118,235 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $27.19, for a total value of $3,214,809.65. Following the sale, the chief executive officer directly owned 1,394,094 shares of the company’s stock, valued at approximately $37,905,415.86. The trade was a 7.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vishwas Setia sold 10,564 shares of the firm’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $28.24, for a total value of $298,327.36. Following the transaction, the chief financial officer owned 356,256 shares of the company’s stock, valued at $10,060,669.44. The trade was a 2.88% 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 have sold 379,987 shares of company stock valued at $10,644,411. Insiders own 3.80% of the company’s stock.

Institutional Trading of Maplight Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Fcpm Iii Services B.V. purchased a new position in Maplight Therapeutics in the fourth quarter worth about $56,672,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of Maplight Therapeutics during the fourth quarter valued at approximately $49,154,000. Goldman Sachs Group Inc. purchased a new position in Maplight Therapeutics in the 4th quarter worth approximately $34,026,000. Nan Fung Group Holdings Ltd purchased a new stake in Maplight Therapeutics during the 4th quarter valued at $17,060,000. Finally, 5AM Venture Management LLC bought a new stake in shares of Maplight Therapeutics in the 4th quarter worth $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.