Maplight Therapeutics (NASDAQ:MPLT) Now Covered by TD Cowen

TD Cowen began coverage on shares of Maplight Therapeutics (NASDAQ:MPLT) in a research note released on Tuesday morning, MarketBeat reports. The brokerage issued a buy rating on the stock.

MPLT has been the topic of several other research reports. Canaccord Genuity Group assumed coverage on Maplight Therapeutics in a research report on Thursday, March 19th. They issued a “buy” rating and a $35.00 target price on the stock. Wall Street Zen downgraded Maplight Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Finally, Weiss Ratings assumed coverage on Maplight Therapeutics in a research report on Thursday, January 22nd. They issued a “sell (e)” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.80.

Maplight Therapeutics Trading Up 6.8%

Shares of NASDAQ MPLT opened at $24.14 on Tuesday. The stock’s 50 day simple moving average is $18.35. The firm has a market capitalization of $1.02 billion and a P/E ratio of -0.61. Maplight Therapeutics has a twelve month low of $12.24 and a twelve month high of $24.15.

Maplight Therapeutics (NASDAQ:MPLT) last posted its earnings results on Thursday, March 26th. The company reported ($2.47) EPS for the quarter, missing the consensus estimate of ($1.05) by ($1.42).

Insider Activity at Maplight Therapeutics

In related news, Director George Pavlov purchased 9,920 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was acquired at an average cost of $17.86 per share, for a total transaction of $177,171.20. Following the completion of the purchase, the director owned 25,000 shares in the company, valued at approximately $446,500. This represents a 65.78% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy John Garnett purchased 14,124 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was bought at an average price of $17.89 per share, with a total value of $252,678.36. Following the completion of the purchase, the director owned 14,124 shares of the company’s stock, valued at $252,678.36. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders purchased 39,124 shares of company stock worth $693,846 and sold 74,612 shares worth $1,368,065.

Institutional Investors Weigh In On Maplight Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in MPLT. Strs Ohio bought a new stake in Maplight Therapeutics during the fourth quarter worth $53,000. Police & Firemen s Retirement System of New Jersey bought a new stake in Maplight Therapeutics during the fourth quarter worth $70,000. New York State Common Retirement Fund bought a new stake in Maplight Therapeutics during the fourth quarter worth $93,000. MetLife Investment Management LLC bought a new stake in Maplight Therapeutics during the fourth quarter worth $172,000. Finally, Walleye Capital LLC bought a new stake in Maplight Therapeutics during the fourth 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.