Maplight Therapeutics (NASDAQ:MPLT) Upgraded at BMO Capital Markets

BMO Capital Markets upgraded shares of Maplight Therapeutics (NASDAQ:MPLT) to a strong-buy rating in a research report report published on Monday morning,Zacks.com reports.

MPLT has been the topic of several other reports. TD Cowen assumed coverage on shares of Maplight Therapeutics in a report on Tuesday, April 7th. They set a “buy” rating on the stock. Benchmark reiterated a “buy” rating on shares of Maplight Therapeutics in a research report on Monday, June 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Maplight Therapeutics in a research note on Monday, July 13th. UBS Group increased their price target on Maplight Therapeutics from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Needham & Company LLC raised their price objective on Maplight Therapeutics from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Five equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $40.09.

Maplight Therapeutics Stock Performance

MPLT stock opened at $35.31 on Monday. The company’s 50-day simple moving average is $31.89 and its 200 day simple moving average is $24.81. Maplight Therapeutics has a 52 week low of $12.24 and a 52 week high of $40.43. The company has a market capitalization of $1.50 billion and a PE ratio of -0.86.

Maplight Therapeutics (NASDAQ:MPLT) last released its quarterly earnings results on Thursday, May 14th. The company reported ($1.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.43). On average, analysts forecast that Maplight Therapeutics will post -5.13 EPS for the current year.

Insider Transactions at Maplight Therapeutics

In other news, insider Jonathan Gillis sold 51,900 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $29.74, for a total value of $1,543,506.00. Following the completion of the transaction, the insider directly owned 199,154 shares in the company, valued at approximately $5,922,839.96. The trade was a 20.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Erin Pennock Foff sold 24,052 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $28.76, for a total transaction of $691,735.52. Following the completion of the transaction, the insider owned 350,497 shares of the company’s stock, valued at $10,080,293.72. The trade was a 6.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 worth $14,079,461. Corporate insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Maplight Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fcpm Iii Services B.V. bought a new position in shares of Maplight Therapeutics in the 4th quarter valued at $56,672,000. T. Rowe Price Investment Management Inc. acquired a new position in shares of Maplight Therapeutics during the 4th quarter worth $49,168,000. Goldman Sachs Group Inc. bought a new stake in shares of Maplight Therapeutics during the 4th quarter worth $34,026,000. Nan Fung Group Holdings Ltd acquired a new stake in Maplight Therapeutics in the fourth quarter valued at about $17,060,000. Finally, 5AM Venture Management LLC acquired a new stake in Maplight Therapeutics in the fourth quarter valued at about $16,687,000.

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.