Maplight Therapeutics (NASDAQ:MPLT – Get Free Report) was upgraded by equities research analysts at Raymond James Financial to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.
Several other brokerages have also recently commented on MPLT. Needham & Company LLC boosted their price target on shares of Maplight Therapeutics from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday. Canaccord Genuity Group began coverage on Maplight Therapeutics in a research note on Thursday, March 19th. They issued a “buy” rating and a $35.00 price objective on the stock. Wall Street Zen lowered shares of Maplight Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. HC Wainwright reiterated a “buy” rating on shares of Maplight Therapeutics in a research report on Monday. Finally, Stifel Nicolaus boosted their target price on shares of Maplight Therapeutics from $28.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Four analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Maplight Therapeutics presently has an average rating of “Buy” and a consensus target price of $38.80.
Read Our Latest Research Report on Maplight Therapeutics
Maplight Therapeutics Trading Up 4.3%
Maplight Therapeutics (NASDAQ:MPLT – Get Free Report) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($1.34) EPS for the quarter, missing the consensus estimate of ($0.91) by ($0.43). Research analysts forecast that Maplight Therapeutics will post -5.04 earnings per share for the current year.
Insider Activity at Maplight Therapeutics
In other Maplight Therapeutics news, insider Erin Pennock Foff sold 4,438 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $28.54, for a total transaction of $126,660.52. Following the transaction, the insider owned 346,059 shares of the company’s stock, valued at approximately $9,876,523.86. This trade represents a 1.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vishwas Setia sold 10,564 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $28.24, for a total value of $298,327.36. Following the completion of the transaction, the chief financial officer directly owned 356,256 shares of the company’s stock, valued at approximately $10,060,669.44. The trade was a 2.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 495,244 shares of company stock worth $14,079,461. Insiders own 3.80% of the company’s stock.
Hedge Funds Weigh In On Maplight Therapeutics
Several hedge funds have recently modified their holdings of MPLT. Strs Ohio purchased a new stake in Maplight Therapeutics during the 4th quarter valued at about $53,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Maplight Therapeutics in the fourth quarter worth about $70,000. New York State Common Retirement Fund purchased a new stake in Maplight Therapeutics in the 4th quarter worth $93,000. MetLife Investment Management LLC acquired a new stake in shares of Maplight Therapeutics in the fourth quarter worth approximately $172,000. Finally, Walleye Capital LLC purchased a new position in shares of Maplight Therapeutics in the fourth quarter worth about $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.
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