Maplight Therapeutics (NASDAQ:MPLT – Get Free Report) had its price objective lifted by research analysts at Needham & Company LLC from $42.00 to $45.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective suggests a potential upside of 13.07% from the stock’s current price.
A number of other equities analysts have also recently commented on the company. Raymond James Financial started coverage on Maplight Therapeutics in a research note on Wednesday, June 24th. They issued a “strong-buy” rating and a $46.00 price target on the stock. Lifesci Capital raised Maplight Therapeutics to a “strong-buy” rating in a research note on Thursday, May 14th. Craig Hallum cut their target price on shares of Maplight Therapeutics from $43.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, June 23rd. HC Wainwright reaffirmed a “buy” rating on shares of Maplight Therapeutics in a research note on Monday, June 22nd. Finally, Canaccord Genuity Group started coverage on shares of Maplight Therapeutics in a report on Thursday, March 19th. They set a “buy” rating and a $35.00 price target for the company. Four investment 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $39.10.
Get Our Latest Stock Analysis on Maplight Therapeutics
Maplight Therapeutics Trading Up 3.3%
Maplight Therapeutics (NASDAQ:MPLT – Get Free Report) last released its earnings results on Thursday, May 14th. The company reported ($1.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.43). As a group, research analysts predict that Maplight Therapeutics will post -5.13 EPS for the current year.
Insider Activity at Maplight Therapeutics
In related news, insider James Woodruff Lillie sold 24,811 shares of the business’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $28.76, for a total transaction of $713,564.36. Following the transaction, the insider owned 243,450 shares in the company, valued at $7,001,622. The trade was a 9.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $28.24, for a total transaction 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 495,244 shares of company stock valued at $14,079,461. 3.80% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. Fcpm Iii Services B.V. bought a new position in Maplight Therapeutics in the fourth quarter worth $56,672,000. T. Rowe Price Investment Management Inc. bought a new position in shares of Maplight Therapeutics during the fourth quarter valued at approximately $49,154,000. Goldman Sachs Group Inc. bought a new stake in shares of Maplight Therapeutics in the 4th quarter worth approximately $34,026,000. Nan Fung Group Holdings Ltd bought a new stake in shares of Maplight Therapeutics in the 4th quarter worth approximately $17,060,000. Finally, 5AM Venture Management LLC purchased a new stake in shares of Maplight Therapeutics in the 4th quarter worth approximately $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.
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