Morgan Stanley Starts MapLight Therapeutics (MPLT) at Overweight

Morgan Stanley analyst Sean Laaman initiates coverage on MapLight Therapeutics (NASDAQ: MPLT) with a Overweight rating and a price target of $34.00.

The analyst comments: "We are initiating coverage of MapLight Therapeutics (MPLT) with an Overweight rating and a $34 price target. MapLight is a clinical stage company developing therapies to treat psychiatric symptoms in highly prevalent CNS disorders, like schizophrenia and Alzheimer’s disease. The company is led by a team with a deep understanding of neural circuit science, including seminal founders in the fields of optogenetics and whole-tissue volumetric imaging in dopamine/serotonin brain circuitry. MapLight's integrated STARmap discovery platform can identify unique drug-able targets (in distinct genetically/anatomically defined circuits) to alleviate symptoms in CNS disorders.

The company’s lead asset is ML007-C-MA, a M1/M4 muscarinic agonist combined with fesoterodine, a peripheral anticholinergic (PAC). ML007-C-MA is in clinical development for schizophrenia (Phase 2 ZEPHYR) and for Alzheimer’s Disease Psychosis (Phase 2 VISTA), with topline results expected in 2H26 and 2H27, respectively. MapLight is also developing ML-004, a 5-HT1B/1D agonist in Phase 2 for Autism Spectrum Disorder, as well as earlier-stage preclinical programs. We see ML007-C-MA as having best-in-class potential and generating $2.6bn in revenue by 2035."

For an analyst ratings summary and ratings history on MapLight Therapeutics click here. For more ratings news on MapLight Therapeutics click here.

Shares of MapLight Therapeutics closed at $13.29 yesterday.

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