MapLight Therapeutics initiated with a Buy at Jefferies

Jefferies analyst Andrew Tsai initiated coverage of MapLight Therapeutics (MPLT) with a Buy rating and $32 price target The company’s ML-007C-MA has a 30%-40% probability of success to generate superior Phase II schizophrenia data, driving a potential 100% stock move and enabling the Street to assign more value to its second program in Alzheimer’s psychosis, the analyst tells investors in a research note. Jefferies believes MapLight has an “intriguing” Phase II pipeline that could disrupt the central nervous system landscape.