Maplight Therapeutics (NASDAQ:MPLT) Now Covered by Analysts at Needham & Company LLC

Needham & Company LLC initiated coverage on shares of Maplight Therapeutics (NASDAQ:MPLT) in a research report report published on Wednesday, MarketBeat.com reports. The brokerage issued a buy rating and a $37.00 target price on the stock.

MPLT has been the topic of a number of other research reports. Canaccord Genuity Group started coverage on Maplight Therapeutics in a report on Thursday, March 19th. They set a “buy” rating and a $35.00 price target on the stock. TD Cowen started coverage on Maplight Therapeutics in a report on Tuesday. They set a “buy” rating on the stock. Weiss Ratings started coverage on Maplight Therapeutics in a report on Thursday, January 22nd. They set a “sell (e)” rating on the stock. Finally, Wall Street Zen cut Maplight Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have given 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 a consensus rating of “Moderate Buy” and a consensus price target of $32.67.

Maplight Therapeutics Stock Up 0.4%

Shares of NASDAQ MPLT opened at $24.24 on Wednesday. The stock has a 50-day simple moving average of $18.45. The company has a market capitalization of $1.03 billion and a PE ratio of -0.61. Maplight Therapeutics has a 52-week low of $12.24 and a 52-week high of $25.79.

Maplight Therapeutics (NASDAQ:MPLT) last released its quarterly earnings results on Thursday, March 26th. The company reported ($2.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.05) by ($1.42).

Insider Activity at Maplight Therapeutics

In related news, Director Robert C. Malenka sold 21,262 shares of the firm’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $18.55, for a total transaction of $394,410.10. Following the transaction, the director owned 371,885 shares in the company, valued at $6,898,466.75. This trade represents a 5.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy John Garnett acquired 14,124 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were bought at an average price of $17.89 per share, for a total transaction of $252,678.36. Following the purchase, the director directly owned 14,124 shares of the company’s stock, valued at approximately $252,678.36. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have purchased 39,124 shares of company stock worth $693,846 and have sold 74,612 shares worth $1,368,065.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Strs Ohio acquired a new position in shares of Maplight Therapeutics during the fourth quarter valued at approximately $53,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Maplight Therapeutics during the fourth quarter valued at approximately $70,000. New York State Common Retirement Fund acquired a new position in shares of Maplight Therapeutics during the fourth quarter valued at approximately $93,000. MetLife Investment Management LLC acquired a new position in shares of Maplight Therapeutics during the fourth quarter valued at approximately $172,000. Finally, Walleye Capital LLC acquired a new position in shares of Maplight Therapeutics during the fourth quarter valued at approximately $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.