Analysts Set Maplight Therapeutics, Inc. (NASDAQ:MPLT) PT at $34.43

Maplight Therapeutics, Inc. (NASDAQ:MPLT) has earned a consensus rating of “Moderate Buy” from the twelve brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $35.50.

A number of research analysts have recently issued reports on the stock. HC Wainwright assumed coverage on shares of Maplight Therapeutics in a research report on Monday, May 4th. They issued a “buy” rating and a $45.00 price target on the stock. 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 on the stock. Needham & Company LLC assumed coverage on shares of Maplight Therapeutics in a research report on Wednesday, April 8th. They issued a “buy” rating and a $37.00 price target on the stock. TD Cowen assumed coverage on shares of Maplight Therapeutics in a research report on Tuesday, April 7th. They issued a “buy” rating on the stock. Finally, Craig Hallum assumed coverage on shares of Maplight Therapeutics in a research report on Thursday. They issued a “buy” rating and a $43.00 price target on the stock.

Insider Activity at Maplight Therapeutics

In related news, insider Jonathan Gillis sold 51,900 shares of the business’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $29.74, for a total transaction of $1,543,506.00. Following the transaction, the insider owned 199,154 shares in the company, valued at $5,922,839.96. The trade was a 20.67% 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, CEO Christopher A. Kroeger sold 118,235 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $27.19, for a total transaction of $3,214,809.65. Following the transaction, the chief executive officer owned 1,394,094 shares in the company, valued at $37,905,415.86. The trade was a 7.82% 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 have sold 507,244 shares of company stock worth $14,300,302 over the last ninety days. 3.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. New York State Common Retirement Fund acquired a new position in shares of Maplight Therapeutics during the 4th quarter valued at $93,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Maplight Therapeutics during the 4th quarter valued at $70,000. Bank of New York Mellon Corp lifted its position 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 valued at $802,000 after acquiring an additional 3,608 shares during the period. Janus Henderson Group PLC acquired a new position in shares of Maplight Therapeutics during the 1st quarter valued at $1,113,000. Finally, ADAR1 Capital Management LLC acquired a new position in shares of Maplight Therapeutics during the 1st quarter valued at $7,622,000.

Maplight Therapeutics Stock Performance

Shares of NASDAQ MPLT opened at $28.75 on Friday. The company has a market capitalization of $1.23 billion and a P/E ratio of -0.70. Maplight Therapeutics has a 52-week low of $12.24 and a 52-week high of $33.28. The company’s 50 day moving average price is $25.14 and its 200-day moving average price is $20.04.

Maplight Therapeutics (NASDAQ:MPLT) last issued its quarterly 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). Analysts forecast that Maplight Therapeutics will post -4.45 earnings per share for the current year.

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.