Analysts Set Maplight Therapeutics, Inc. (NASDAQ:MPLT) Target Price at $31.80

Shares of Maplight Therapeutics, Inc. (NASDAQ:MPLT) have earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $31.80.

Several equities research analysts have weighed in on the company. Wall Street Zen cut Maplight Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Canaccord Genuity Group began coverage on Maplight Therapeutics in a report on Thursday, March 19th. They issued a “buy” rating and a $35.00 target price for the company. Finally, Weiss Ratings started coverage on Maplight Therapeutics in a research report on Thursday, January 22nd. They set a “sell (e)” rating on the stock.

Maplight Therapeutics Price Performance

Shares of NASDAQ:MPLT opened at $18.55 on Friday. The business has a fifty day simple moving average of $17.86. Maplight Therapeutics has a 52 week low of $12.24 and a 52 week high of $21.55. The stock has a market cap of $787.26 million and a PE ratio of -0.50.

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

Insiders Place Their Bets

In other news, Director George Pavlov bought 10,658 shares of the stock in a transaction dated Wednesday, February 18th. The stock was purchased at an average price of $17.48 per share, for a total transaction of $186,301.84. Following the acquisition, the director owned 10,658 shares of the company’s stock, valued at $186,301.84. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Timothy John Garnett purchased 14,124 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The shares were purchased at an average cost 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 in the company, valued at $252,678.36. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders bought 39,124 shares of company stock valued at $693,846 and sold 74,612 shares valued at $1,368,065.

Institutional Trading of Maplight Therapeutics

Several institutional investors have recently added to or reduced their stakes in MPLT. Strs Ohio purchased a new stake in Maplight Therapeutics in the 4th quarter valued at about $53,000. Blue Owl Capital Holdings LP purchased a new position in shares of Maplight Therapeutics during the fourth quarter worth approximately $5,745,000. Geode Capital Management LLC bought a new stake in shares of Maplight Therapeutics during the fourth quarter valued at approximately $6,835,000. Seven Grand Managers LLC purchased a new stake in shares of Maplight Therapeutics in the fourth quarter valued at approximately $1,756,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Maplight Therapeutics in the fourth quarter valued at approximately $34,026,000.

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.