Craig Hallum Begins Coverage on Maplight Therapeutics (NASDAQ:MPLT)

Investment analysts at Craig Hallum initiated coverage on shares of Maplight Therapeutics (NASDAQ:MPLT) in a research report issued to clients and investors on Thursday, Marketbeat reports. The brokerage set a “buy” rating and a $43.00 price target on the stock. Craig Hallum’s target price indicates a potential upside of 54.62% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. Lifesci Capital raised Maplight Therapeutics to a “strong-buy” rating in a report on Thursday, May 14th. Canaccord Genuity Group assumed coverage on shares of Maplight Therapeutics in a research report on Thursday, March 19th. They issued a “buy” rating and a $35.00 price target for the company. Wall Street Zen downgraded shares of Maplight Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Weiss Ratings began coverage on shares of Maplight Therapeutics in a research note on Thursday, January 22nd. They issued a “sell (e)” rating on the stock. Finally, TD Cowen assumed coverage on shares of Maplight Therapeutics in a report on Tuesday, April 7th. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Maplight Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $35.50.

Maplight Therapeutics Stock Performance

Shares of MPLT stock opened at $27.81 on Thursday. The business’s 50-day moving average price is $24.74. Maplight Therapeutics has a 1 year low of $12.24 and a 1 year high of $33.28. The stock has a market capitalization of $1.19 billion and a price-to-earnings ratio of -0.68.

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). On average, research analysts forecast that Maplight Therapeutics will post -4.45 EPS for the current fiscal year.

Insider Transactions at Maplight Therapeutics

In other Maplight Therapeutics news, CEO Christopher A. Kroeger sold 118,235 shares of Maplight Therapeutics stock in a transaction that occurred 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Anatol Kreitzer sold 45,422 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $29.66, for a total value of $1,347,216.52. Following the transaction, the insider owned 211,190 shares in the company, valued at $6,263,895.40. The trade was a 17.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 509,439 shares of company stock worth $14,339,878 over the last quarter. 3.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Maplight Therapeutics

A number of institutional investors have recently modified their holdings of the business. Strs Ohio acquired a new stake in Maplight Therapeutics in the fourth quarter valued at $53,000. Bank of New York Mellon Corp grew its stake in shares of Maplight Therapeutics by 10.1% during the 1st quarter. Bank of New York Mellon Corp now owns 39,465 shares of the company’s stock worth $802,000 after purchasing an additional 3,608 shares during the period. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Maplight Therapeutics in the 4th quarter valued at about $70,000. New York State Common Retirement Fund acquired a new stake in shares of Maplight Therapeutics in the fourth quarter valued at about $93,000. Finally, MetLife Investment Management LLC acquired a new stake in shares of Maplight Therapeutics in the fourth quarter valued at about $172,000.

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.