Canaccord Genuity Group Initiates Coverage on Maplight Therapeutics (NASDAQ:MPLT)

Analysts at Canaccord Genuity Group began coverage on shares of Maplight Therapeutics (NASDAQ:MPLT) in a report released on Thursday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $35.00 price target on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 99.32% from the company’s previous close.

A number of other equities analysts have also recently issued reports on MPLT. Leerink Partners initiated coverage on Maplight Therapeutics in a report on Friday, November 21st. They set an “outperform” rating and a $30.00 target price for the company. Stifel Nicolaus started coverage on Maplight Therapeutics in a research report on Friday, November 21st. They set a “buy” rating and a $28.00 price objective for the company. Wall Street Zen upgraded Maplight Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, December 20th. Jefferies Financial Group initiated coverage on Maplight Therapeutics in a research report on Friday, November 21st. They issued a “buy” rating and a $32.00 target price on the stock. Finally, Weiss Ratings assumed coverage on Maplight Therapeutics in a research report on Thursday, January 22nd. They set a “sell (e)” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.80.

Maplight Therapeutics Trading Up 0.4%

Shares of NASDAQ:MPLT opened at $17.56 on Thursday. The firm has a market capitalization of $796.70 million and a price-to-earnings ratio of -0.47. Maplight Therapeutics has a 12 month low of $12.24 and a 12 month high of $21.55. The stock’s fifty day moving average is $17.88.

Insider Buying and Selling

In related news, Director Robert C. Malenka sold 21,262 shares of Maplight Therapeutics stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $18.55, for a total value of $394,410.10. Following the completion of the sale, the director owned 371,885 shares of the company’s stock, valued at approximately $6,898,466.75. This trade represents a 5.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director George Pavlov purchased 10,658 shares of the firm’s stock in a transaction on Wednesday, February 18th. The shares were acquired at an average price of $17.48 per share, with a total value of $186,301.84. Following the purchase, the director directly owned 10,658 shares in the company, valued at $186,301.84. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have bought 39,124 shares of company stock worth $693,846 and have sold 74,612 shares worth $1,368,065.

Hedge Funds Weigh In On Maplight Therapeutics

Large investors have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. acquired a new position in Maplight Therapeutics during the 4th quarter valued at about $49,168,000. Invesco Ltd. bought a new position in shares of Maplight Therapeutics in the fourth quarter valued at approximately $228,000. Vestal Point Capital LP purchased a new position in shares of Maplight Therapeutics during the fourth quarter valued at approximately $6,763,000. Tudor Investment Corp ET AL purchased a new position in shares of Maplight Therapeutics during the fourth quarter valued at approximately $840,000. Finally, Orbimed Advisors LLC bought a new stake in Maplight Therapeutics during the fourth quarter worth $952,000.

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.