MapLight Therapeutics initiated with a Buy at Needham

Needham initiated coverage of MapLight Therapeutics (MPLT) with a Buy rating and $37 price target The firm believes the muscarinic class is likely to be “disruptive,” with application across multiple indications including schizophrenia and Alzheimer’s disease psychosis. MapLight ‘s ML-007C-MA should be “differentiated” from Cobenfy in schizophrenia on tolerability and convenience, supporting $1.5B in sales by 2035, the analyst tells investors in a research note.