Maplight Therapeutics (NASDAQ:MPLT) Sets New 1-Year High - Still a Buy?

Key Points

• 52-week high: Maplight Therapeutics (MPLT) hit a new 52-week high of $30.90, last trading at $30.4550 (up ~5.4%) on volume of 45,207 shares versus a prior close of $28.51.
• Analyst view: The consensus rating is a "Moderate Buy" with an average price target of $32.67; several firms recently initiated coverage with Buy ratings and $35–$37 targets while a few issued Hold/Sell opinions.
• Fundamentals & insider activity: The company has a $1.28B market cap and reported a Q1 EPS miss (‑$2.47 vs. ‑$1.05 est), yet directors recently bought sizable stakes (~$17–$18 per share) even as overall insider activity over 90 days shows more shares sold than bought.

Maplight Therapeutics, Inc. (NASDAQ:MPLT - Get Free Report)'s share price hit a new 52-week high on Friday . The stock traded as high as $30.90 and last traded at $30.4550, with a volume of 45207 shares trading hands. The stock had previously closed at $28.51.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MPLT. TD Cowen began coverage on Maplight Therapeutics in a report on Tuesday, April 7th. They issued a "buy" rating for the company. Weiss Ratings began coverage on Maplight Therapeutics in a report on Thursday, January 22nd. They issued a "sell (e)" rating for the company. Canaccord Genuity Group began coverage on Maplight Therapeutics in a report on Thursday, March 19th. They issued a "buy" rating and a $35.00 price objective for the company. Needham & Company LLC assumed coverage on Maplight Therapeutics in a report on Wednesday, April 8th. They issued a "buy" rating and a $37.00 price objective for the company. Finally, Wall Street Zen downgraded Maplight Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, March 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $32.67.

Maplight Therapeutics Stock Up 5.4%

The stock's 50 day moving average is $19.68. The company has a market cap of $1.28 billion and a P/E ratio of -0.76.

Maplight Therapeutics (NASDAQ:MPLT - Get Free Report) last issued its earnings results on Thursday, March 26th. The company reported ($2.47) EPS for the quarter, missing analysts' consensus estimates of ($1.05) by ($1.42).

Insider Buying and Selling at Maplight Therapeutics

In related news, Director George Pavlov bought 10,658 shares of the firm's stock in a transaction on Wednesday, February 18th. The stock was bought at an average cost of $17.48 per share, for a total transaction of $186,301.84. Following the completion of the purchase, the director directly owned 10,658 shares in the company, valued at approximately $186,301.84. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy John Garnett bought 14,124 shares of the firm's stock in a transaction on Tuesday, February 10th. The stock was bought at an average price of $17.89 per share, with a total value of $252,678.36. Following the completion of the purchase, the director owned 14,124 shares of the company's stock, valued at $252,678.36. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders purchased 39,124 shares of company stock worth $693,846 and sold 74,612 shares worth $1,368,065.

Hedge Funds Weigh In On Maplight Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Strs Ohio acquired a new position in shares of Maplight Therapeutics during the fourth quarter worth approximately $53,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Maplight Therapeutics during the fourth quarter worth approximately $70,000. New York State Common Retirement Fund acquired a new position in shares of Maplight Therapeutics during the fourth quarter worth approximately $93,000. MetLife Investment Management LLC acquired a new position in shares of Maplight Therapeutics during the fourth quarter worth approximately $172,000. Finally, Walleye Capital LLC acquired a new position in shares of Maplight Therapeutics during the fourth quarter worth approximately $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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