MapLight Therapeutics Inc: BMO cuts target price to $20 from $46

MapLight Therapeutics Inc. (NASDAQ:MPLT) has seen recent adjustments to analyst price targets following mixed clinical trial data. BMO Capital recently cut its target price for the stock to $20 from $46, citing updated expectations for the company’s pipeline. This follows a broader trend of analysts revising their outlooks after the release of first-in-patient data from the Phase 2 Zephyr trial, which showed lacked clear differentiation compared to Cobenfy.

Despite the lowered price target, BMO Capital and other firms, including Wolfe Research and TD Cowen, continue to maintain positive ratings for the stock, including Outperform and Buy designations. The stock currently trades at $9.90, significantly below the analyst consensus price target range of $25 to $60. Meanwhile, the company’s Phase II trial of ML-007C-MA for schizophrenia met its primary endpoint, showing 4.5-point improvement over placebo at week five. Analysts from Jefferies and TD Cowen highlighted the statistical significance of these results, reinforcing their positive stance on the stock. Investors are closely watching further developments in the company’s pipeline and how the market reacts to evolving analyst sentiment.