Maplight Therapeutics (NASDAQ:MPLT) Stock Rating Lowered by Wall Street Zen

Maplight Therapeutics (NASDAQ:MPLT) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other research firms have also recently weighed in on MPLT. Stifel Nicolaus began coverage on shares of Maplight Therapeutics in a research note on Friday, November 21st. They issued a “buy” rating and a $28.00 price target for the company. Jefferies Financial Group initiated coverage on Maplight Therapeutics in a report on Friday, November 21st. They issued a “buy” rating and a $32.00 price objective on the stock. Weiss Ratings began coverage on Maplight Therapeutics in a research report on Thursday, January 22nd. They issued a “sell (e)” rating for the company. Leerink Partners initiated coverage on Maplight Therapeutics in a research note on Friday, November 21st. They set an “outperform” rating and a $30.00 target price for the company. Finally, Morgan Stanley initiated coverage on Maplight Therapeutics in a research report on Friday, November 21st. They issued an “overweight” rating and a $34.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.80.

Maplight Therapeutics Trading Up 0.4%

Shares of NASDAQ:MPLT opened at $17.56 on Friday. Maplight Therapeutics has a 52-week low of $12.24 and a 52-week high of $21.55. The stock has a market cap of $796.70 million and a PE ratio of -0.47. The company has a fifty day moving average of $17.88.

Insider Activity

In related news, Director Robert C. Malenka sold 11,264 shares of the business’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $18.42, for a total value of $207,482.88. Following the sale, the director owned 325,795 shares in the company, valued at approximately $6,001,143.90. The trade was a 3.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George Pavlov bought 9,920 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were purchased at an average cost of $17.86 per share, for a total transaction of $177,171.20. Following the purchase, the director owned 25,000 shares in the company, valued at $446,500. This represents a 65.78% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 39,124 shares of company stock valued at $693,846 and sold 74,612 shares valued at $1,368,065.

Hedge Funds Weigh In On Maplight Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Strs Ohio purchased a new position in shares of Maplight Therapeutics in the 4th quarter valued at $53,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Maplight Therapeutics in the fourth quarter valued at $70,000. New York State Common Retirement Fund purchased a new stake in Maplight Therapeutics in the fourth quarter valued at $93,000. MetLife Investment Management LLC acquired a new position in Maplight Therapeutics in the fourth quarter valued at $172,000. Finally, Walleye Capital LLC purchased a new position in shares of Maplight Therapeutics during the fourth quarter worth about $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.