Maplight Therapeutics, Inc. (MPLT) - What Are Analysts Thinking About This Stock?

Key Points

• Analyst consensus is “Moderate Buy”: Among 18 analysts, nine rate Maplight Therapeutics a buy and four a strong buy, with an average 12-month price target of $29.50. However, recent actions included UBS downgrading the stock to neutral and cutting its target to $13.
• Shares have fallen sharply: MPLT opened at $8.60, near its 52-week low of $8.48 and well below its 52-week high of $40.43. The company has a market capitalization of about $478 million and remains unprofitable.
• Quarterly results modestly beat expectations: Maplight reported a quarterly loss of $1.32 per share versus the consensus estimate of a $1.40 loss. Insider activity was mixed, with an executive selling shares while a director purchased 15,620 shares.

Maplight Therapeutics, Inc. (NASDAQ:MPLT - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the eighteen research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and four have assigned a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $29.50.

A number of analysts have recently weighed in on the company. Wall Street Zen cut Maplight Therapeutics from a "sell" rating to a "strong sell" rating in a research report on Saturday, October 3rd. UBS Group lowered Maplight Therapeutics from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $52.00 to $13.00 in a research report on Monday, August 10th. BMO Capital Markets began coverage on Maplight Therapeutics in a research note on Monday, July 20th. They set an "outperform" rating and a $46.00 price objective for the company. Guggenheim initiated coverage on Maplight Therapeutics in a research report on Monday, October 5th. They issued a "neutral" rating on the stock. Finally, HC Wainwright dropped their target price on Maplight Therapeutics from $45.00 to $26.00 and set a "buy" rating on the stock in a research report on Tuesday, July 28th.

Maplight Therapeutics Trading Down 2.6%

Shares of MPLT opened at $8.60 on Tuesday. Maplight Therapeutics has a 52 week low of $8.48 and a 52 week high of $40.43. The firm has a market cap of $477.99 million and a price-to-earnings ratio of -0.20. The stock has a 50 day moving average of $11.64 and a 200-day moving average of $22.70.

Maplight Therapeutics (NASDAQ:MPLT - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($1.32) EPS for the quarter, beating the consensus estimate of ($1.40) by $0.08. On average, sell-side analysts predict that Maplight Therapeutics will post -5.01 earnings per share for the current fiscal year.

Insider Activity

In related news, insider James Lillie sold 22,082 shares of Maplight Therapeutics stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $12.54, for a total value of $276,908.28. Following the sale, the insider directly owned 202,380 shares in the company, valued at $2,537,845.20. This trade represents a 9.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Troy Cox bought 15,620 shares of Maplight Therapeutics stock in a transaction on Tuesday, July 28th. The shares were purchased at an average cost of $9.52 per share, with a total value of $148,702.40. Following the completion of the purchase, the director directly owned 15,620 shares in the company, valued at $148,702.40. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 3.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Maplight Therapeutics

Hedge funds have recently made changes to their positions in the business. Legal & General Group Plc bought a new position in shares of Maplight Therapeutics in the second quarter worth $37,000. Bank of New York Mellon Corp increased its holdings in shares of Maplight Therapeutics by 10.1% during the first quarter. Bank of New York Mellon Corp now owns 39,465 shares of the company's stock valued at $802,000 after purchasing an additional 3,608 shares during the period. Wellington Management Group LLP raised its stake in shares of Maplight Therapeutics by 12.4% during the second quarter. Wellington Management Group LLP now owns 51,917 shares of the company's stock valued at $1,861,000 after purchasing an additional 5,709 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Maplight Therapeutics during the second quarter valued at about $252,000. Finally, Deutsche Bank AG bought a new stake in shares of Maplight Therapeutics during the second quarter valued at about $370,000.

About Maplight Therapeutics

MapLight Therapeutics is a clinical-stage biopharmaceutical company developing medicines for neuropsychiatric and neurological disorders. The company focuses on conditions for which existing treatments may provide limited benefits or cause significant side effects.

MapLight uses a neuroscience-focused drug discovery and development approach to identify therapies intended to address the underlying biology of central nervous system disorders. Its pipeline includes investigational small-molecule treatments being studied for conditions such as schizophrenia and other serious mental health disorders.

The company conducts research and clinical development in the United States.

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