Maplight Therapeutics (NASDAQ:MPLT) Now Covered by Analysts at Canaccord Genuity Group
by Kim Johansen · The Markets DailyStock analysts at Canaccord Genuity Group initiated coverage on shares of Maplight Therapeutics (NASDAQ:MPLT – Get Free Report) in a research note issued on Thursday, Marketbeat.com reports. The brokerage set a “buy” rating and a $35.00 price target on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 105.64% from the company’s current price.
Several other analysts have also recently issued reports on MPLT. Leerink Partners began coverage on Maplight Therapeutics in a research note on Friday, November 21st. They set an “outperform” rating and a $30.00 price objective on the stock. Morgan Stanley assumed coverage on shares of Maplight Therapeutics in a research note on Friday, November 21st. They set an “overweight” rating and a $34.00 target price for the company. Stifel Nicolaus initiated coverage on shares of Maplight Therapeutics in a research report on Friday, November 21st. They issued a “buy” rating and a $28.00 price target on the stock. Zacks Research upgraded Maplight Therapeutics to a “hold” rating in a research report on Monday, November 24th. Finally, Wall Street Zen upgraded Maplight Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, December 20th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.80.
Get Our Latest Report on Maplight Therapeutics
Maplight Therapeutics Stock Performance
NASDAQ:MPLT opened at $17.02 on Thursday. The stock has a 50-day simple moving average of $17.88. Maplight Therapeutics has a one year low of $12.24 and a one year high of $21.55. The firm has a market capitalization of $772.20 million and a PE ratio of -0.46.
Insider Activity
In other Maplight Therapeutics news, Director Timothy John Garnett acquired 14,124 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The stock was acquired at an average cost of $17.89 per share, with a total value of $252,678.36. Following the acquisition, the director directly owned 14,124 shares of the company’s stock, valued at $252,678.36. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director George Pavlov bought 9,920 shares of the business’s stock in a transaction on Friday, February 20th. The shares were acquired at an average cost of $17.86 per share, for a total transaction of $177,171.20. Following the purchase, the director directly owned 25,000 shares in the company, valued at $446,500. This represents a 65.78% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have acquired 39,124 shares of company stock valued at $693,846 and have sold 74,612 shares valued at $1,368,065.
Hedge Funds Weigh In On Maplight Therapeutics
A number of institutional investors and hedge funds have recently bought and sold shares of MPLT. Fcpm Iii Services B.V. acquired a new stake in Maplight Therapeutics during the 4th quarter worth about $56,672,000. T. Rowe Price Investment Management Inc. acquired a new position in Maplight Therapeutics during the fourth quarter valued at $49,154,000. Goldman Sachs Group Inc. acquired a new stake in Maplight Therapeutics during the 4th quarter worth about $34,026,000. Nan Fung Group Holdings Ltd purchased a new position in Maplight Therapeutics during the 4th quarter valued at about $17,060,000. Finally, 5AM Venture Management LLC acquired a new position in shares of Maplight Therapeutics in the 4th quarter valued at about $16,687,000.
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.