Wall Street Zen cut shares of Maplight Therapeutics (NASDAQ:MPLT – Free Report) from a sell rating to a strong sell rating in a research note issued to investors on Saturday.
MPLT has been the subject of a number of other reports. HC Wainwright reduced their target price on shares of Maplight Therapeutics from $45.00 to $26.00 and set a “buy” rating for the company in a research note on Tuesday, July 28th. Craig Hallum reiterated a “buy” rating and set a $25.00 price objective on shares of Maplight Therapeutics in a research note on Tuesday, July 28th. Raymond James Financial initiated coverage on Maplight Therapeutics in a research report on Wednesday, June 24th. They issued a “strong-buy” rating and a $46.00 target price for the company. Benchmark reaffirmed a “buy” rating on shares of Maplight Therapeutics in a report on Monday, June 22nd. Finally, Jefferies Financial Group restated a “buy” rating on shares of Maplight Therapeutics in a report on Monday, July 27th. Four investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $34.42.
Maplight Therapeutics Stock Performance
Maplight Therapeutics (NASDAQ:MPLT – Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($1.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.43). On average, equities research analysts forecast that Maplight Therapeutics will post -5.22 EPS for the current fiscal year.
Insider Activity
In other news, CEO Christopher A. Kroeger sold 118,235 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $27.19, for a total value of $3,214,809.65. Following the completion of the sale, the chief executive officer directly owned 1,394,094 shares of the company’s stock, valued at $37,905,415.86. This represents a 7.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Troy Cox purchased 15,620 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were bought at an average price of $9.52 per share, with a total value of $148,702.40. Following the completion of the acquisition, the director owned 15,620 shares of the company’s stock, valued at $148,702.40. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders sold 275,013 shares of company stock valued at $7,696,771 in the last ninety days. Corporate insiders own 3.80% of the company’s stock.
Hedge Funds Weigh In On Maplight Therapeutics
Several institutional investors and hedge funds have recently modified their holdings of the stock. Fcpm Iii Services B.V. purchased a new stake in shares of Maplight Therapeutics during the fourth quarter worth $56,672,000. T. Rowe Price Investment Management Inc. acquired a new position in Maplight Therapeutics in the fourth quarter worth approximately $49,154,000. Goldman Sachs Group Inc. bought a new position in Maplight Therapeutics during the fourth quarter valued at approximately $34,026,000. Nan Fung Group Holdings Ltd acquired a new stake in Maplight Therapeutics in the fourth quarter valued at approximately $17,060,000. Finally, 5AM Venture Management LLC acquired a new stake in Maplight Therapeutics in the fourth quarter valued at 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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