Maplight Therapeutics (NASDAQ:MPLT) Hits New 52-Week High – Time to Buy?

Shares of Maplight Therapeutics, Inc. (NASDAQ:MPLT) hit a new 52-week high on Friday . The stock traded as high as $34.36 and last traded at $33.1560, with a volume of 58855 shares. The stock had previously closed at $31.96.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MPLT shares. Stifel Nicolaus lifted their price target on Maplight Therapeutics from $28.00 to $36.00 and gave the company a “buy” rating in a report on Monday, June 1st. Wall Street Zen downgraded Maplight Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. HC Wainwright reiterated a “buy” rating on shares of Maplight Therapeutics in a research note on Monday. Craig Hallum decreased their target price on shares of Maplight Therapeutics from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, UBS Group began coverage on shares of Maplight Therapeutics in a research note on Tuesday, May 26th. They set a “buy” rating and a $48.00 price target on the stock. Four investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $38.80.

Maplight Therapeutics Stock Performance

The stock has a 50 day moving average of $29.11 and a two-hundred day moving average of $22.44. The firm has a market capitalization of $1.40 billion and a P/E ratio of -0.80.

Maplight Therapeutics (NASDAQ:MPLT) last announced its earnings results on Thursday, May 14th. The company reported ($1.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.43). Sell-side analysts predict that Maplight Therapeutics, Inc. will post -5.04 EPS for the current year.

Insider Activity

In other Maplight Therapeutics news, insider Erin Pennock Foff sold 4,438 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $28.54, for a total transaction of $126,660.52. Following the completion of the transaction, the insider owned 346,059 shares of the company’s stock, valued at $9,876,523.86. The trade was a 1.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James Woodruff Lillie sold 24,811 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 $713,564.36. Following the sale, 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 495,244 shares of company stock valued at $14,079,461 in the last quarter. 3.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Maplight Therapeutics

Several large investors have recently made changes to their positions in the business. Strs Ohio acquired a new stake in Maplight Therapeutics in the 4th quarter valued at approximately $53,000. Blue Owl Capital Holdings LP bought a new position in Maplight Therapeutics in the 4th quarter worth approximately $5,745,000. Geode Capital Management LLC acquired a new position in shares of Maplight Therapeutics during the fourth quarter worth approximately $6,835,000. Seven Grand Managers LLC bought a new stake in shares of Maplight Therapeutics in the fourth quarter valued at approximately $1,756,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Maplight Therapeutics in the fourth quarter worth $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.