Maplight Therapeutics (NASDAQ:MPLT) Rating Increased to Strong-Buy at Raymond James Financial

Maplight Therapeutics (NASDAQ:MPLT) was upgraded by equities researchers at Raymond James Financial to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

MPLT has been the subject of several other research reports. Canaccord Genuity Group started coverage on shares of Maplight Therapeutics in a research note on Thursday, March 19th. They issued a “buy” rating and a $35.00 target price 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. Lifesci Capital raised shares of Maplight Therapeutics to a “strong-buy” rating in a research report on Thursday, May 14th. Needham & Company LLC upped their target price on Maplight Therapeutics from $37.00 to $42.00 and gave the company a “buy” rating in a report on Monday. Finally, TD Cowen assumed coverage on Maplight Therapeutics in a research report on Tuesday, April 7th. They set a “buy” rating for the company. Four equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $38.80.

Maplight Therapeutics Stock Performance

MPLT stock opened at $31.96 on Wednesday. The company has a market capitalization of $1.36 billion and a P/E ratio of -0.78. Maplight Therapeutics has a 52-week low of $12.24 and a 52-week high of $33.28. The business has a 50-day simple moving average of $29.11 and a two-hundred day simple moving average of $22.44.

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 the consensus estimate of ($0.91) by ($0.43). As a group, sell-side analysts forecast that Maplight Therapeutics will post -5.04 earnings per share for the current fiscal year.

Insider Transactions at Maplight Therapeutics

In other news, insider Erin Pennock Foff sold 24,052 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $28.76, for a total transaction of $691,735.52. Following the transaction, the insider owned 350,497 shares of the company’s stock, valued at $10,080,293.72. This represents a 6.42% decrease in their position. The sale was disclosed in a 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 Jonathan Gillis sold 51,900 shares of the stock in a transaction on Monday, April 27th. The stock was sold at an average price of $29.74, for a total value of $1,543,506.00. Following the completion of the sale, the insider owned 199,154 shares in the company, valued at $5,922,839.96. This trade represents a 20.67% 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. Over the last quarter, insiders sold 495,244 shares of company stock valued at $14,079,461. Corporate insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Maplight Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Strs Ohio purchased a new stake in shares of Maplight Therapeutics during the 4th quarter valued at $53,000. Police & Firemen s Retirement System of New Jersey bought a new position in Maplight Therapeutics during the fourth quarter valued at approximately $70,000. New York State Common Retirement Fund bought a new stake in shares of Maplight Therapeutics in the 4th quarter worth approximately $93,000. MetLife Investment Management LLC bought a new position in shares of Maplight Therapeutics during the 4th quarter valued at $172,000. Finally, Walleye Capital LLC purchased a new position in Maplight Therapeutics in the 4th quarter worth $205,000.

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.