Maplight Therapeutics, Inc. (NASDAQ:MPLT) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Analysts give Maplight Therapeutics a “Moderate Buy” consensus: Of 17 ratings, nine are buys, four are strong buys, three are holds and one is a sell. The average 12-month price target is $29.50, well above the latest $11.32 price.
• MPLT shares have declined sharply: The stock opened at $11.32, near its 12-month low of $9.10 and far below its 12-month high of $40.43; its 50-day and 200-day moving averages are $17.91 and $23.68, respectively.
• The company remains an early-stage, loss-making biotech: Maplight reported a quarterly loss of $1.32 per share, though it beat estimates by $0.08, and analysts expect a full-year loss of $5.12 per share. Recent insider activity was mixed, with an executive sale and a director purchase.

Maplight Therapeutics, Inc. (NASDAQ:MPLT - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the seventeen ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, nine have assigned a buy rating and four have given a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $29.50.

Several equities analysts have commented on MPLT shares. Raymond James Financial set a $31.00 price objective on Maplight Therapeutics in a research report on Friday, August 14th. Needham & Company LLC cut their target price on shares of Maplight Therapeutics from $45.00 to $43.00 and set a "buy" rating on the stock in a research report on Monday, August 31st. Morgan Stanley reiterated an "equal weight" rating and issued a $21.00 target price (down from $34.00) on shares of Maplight Therapeutics in a research note on Tuesday, July 28th. Canaccord Genuity Group set a $21.00 price objective on shares of Maplight Therapeutics in a research report on Friday, August 14th. Finally, Stifel Nicolaus increased their price objective on shares of Maplight Therapeutics from $28.00 to $36.00 and gave the company a "buy" rating in a research report on Monday, June 1st.

Insider Buying and Selling at Maplight Therapeutics

In related news, insider James Lillie sold 22,082 shares of the firm's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $12.54, for a total transaction of $276,908.28. Following the sale, the insider directly owned 202,380 shares of the company's stock, valued at $2,537,845.20. This trade represents a 9.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Troy Cox bought 15,620 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The stock was purchased at an average price of $9.52 per share, with a total value of $148,702.40. Following the completion of the purchase, the director owned 15,620 shares in the company, valued at approximately $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.

Hedge Funds Weigh In On Maplight Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of MPLT. Legal & General Group Plc acquired a new stake in Maplight Therapeutics in the 2nd quarter valued at about $37,000. The Manufacturers Life Insurance Company acquired a new position in shares of Maplight Therapeutics during the 2nd quarter worth approximately $252,000. Deutsche Bank AG acquired a new position in shares of Maplight Therapeutics during the 2nd quarter worth approximately $370,000. ADAR1 Capital Management LLC purchased a new stake in shares of Maplight Therapeutics in the second quarter valued at approximately $950,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Maplight Therapeutics in the second quarter valued at approximately $1,090,000.

Maplight Therapeutics Trading Down 0.7%

NASDAQ MPLT opened at $11.32 on Friday. Maplight Therapeutics has a 12 month low of $9.10 and a 12 month high of $40.43. The stock has a market cap of $525.02 million and a price-to-earnings ratio of -0.27. The company's 50 day moving average is $17.91 and its two-hundred day moving average is $23.68.

Maplight Therapeutics (NASDAQ:MPLT - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($1.32) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.40) by $0.08. Sell-side analysts forecast that Maplight Therapeutics will post -5.12 EPS for the current year.

About Maplight Therapeutics

MapLight Therapeutics is a clinical-stage biopharmaceutical company focused on developing treatments for disorders of the central nervous system. The company's research programs are aimed at addressing significant unmet needs in psychiatric and neurological diseases.

MapLight's pipeline consists of investigational therapies designed to target biological pathways associated with conditions such as schizophrenia and other brain disorders. Its activities include drug discovery, clinical development and the evaluation of potential treatments through clinical trials.

The company's products remain investigational and require successful clinical testing and regulatory review before they can be marketed.

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