Maplight Therapeutics (NASDAQ:MPLT) Stock Price Down 8.5% – Time to Sell?

Maplight Therapeutics, Inc. (NASDAQ:MPLT) traded down 8.5% during trading on Wednesday . The company traded as low as $13.50 and last traded at $13.60. 126,550 shares changed hands during trading, a decline of 52% from the average session volume of 265,938 shares. The stock had previously closed at $14.87.

Wall Street Analyst Weigh In

MPLT has been the subject of several research analyst reports. Wall Street Zen upgraded Maplight Therapeutics to a “hold” rating in a research report on Wednesday, November 5th. Leerink Partners began coverage on shares of Maplight Therapeutics in a research note on Friday. They issued an “outperform” rating and a $30.00 price target on the stock. Stifel Nicolaus initiated coverage on shares of Maplight Therapeutics in a research report on Friday. They set a “buy” rating and a $28.00 price objective for the company. Jefferies Financial Group assumed coverage on shares of Maplight Therapeutics in a report on Friday. They set a “buy” rating and a $32.00 price objective on the stock. Finally, Morgan Stanley assumed coverage on shares of Maplight Therapeutics in a research note on Friday. They issued an “overweight” rating and a $34.00 target price for the company. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $31.00.

Maplight Therapeutics Stock Up 5.3%

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.