Stifel Nicolaus analyst Paul Matteis has maintained their bullish stance on MPLT stock, giving a Buy rating on November 24.
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Paul Matteis has given his Buy rating due to a combination of factors surrounding MapLight Therapeutics, Inc. The continuation of the ADEPT-2 study for Cobenfy, despite initial concerns about trial conduct irregularities, is viewed as a positive development. The decision to proceed with the study, following engagement with the FDA and an independent interim analysis, alleviates some investor concerns about the trial’s prolonged timeline and BMY’s cautious commentary.
Furthermore, the upcoming data readouts from ADEPT-2 and other ADP studies in 2026 are anticipated to be significant catalysts for MPLT’s stock. The potential for muscarinics to work effectively in ADP, as evidenced by previous studies in schizophrenia and ADP, adds to the optimism. Although there are concerns about dosing and tolerability, the possibility of a wider therapeutic index in elderly subjects presents an upside risk/reward scenario, especially given the current valuation of MPLT that appears to reflect minimal ADP credit.
In another report released on November 24, Morgan Stanley also maintained a Buy rating on the stock with a $34.00 price target.