MapLight Therapeutics has received varied analyst updates, including a new coverage initiation and divergent price target adjustments from existing firms. Raymond James initiated coverage on the NASDAQ-listed stock with a Strong Buy rating and a price target of $46. Concurrently, Needham raised its valuation while Craig-Hallum lowered its objective, though both maintained a Buy rating. These updates reflect differing assessments of the company's current valuation and future growth prospects.

Raymond James Initiates Coverage

Raymond James analyst Tiago Fauth initiated coverage on MapLight Therapeutics with a Strong Buy rating. The firm announced a price target of $46, signaling a positive outlook on the company's potential.

Needham Raises Price Target

Needham analyst Ami Fadia maintained a Buy rating on MapLight Therapeutics, citing an updated valuation. The firm increased its price target, reflecting a positive outlook on the company's performance.

The decision to raise the price target suggests increased confidence in the company's growth trajectory or clinical progress.

Craig-Hallum Lowers Valuation

Craig-Hallum analyst Adam Vogel maintained a Buy rating on MapLight Therapeutics but adjusted the valuation downward. The firm reduced its price target from $43 to $40.

MapLight Therapeutics, Inc. has appointed Martin Babler and Troy Cox to its Board of Directors following their election at the Company’s Annual Meeting of Stockholders on June 23, 2026. The appointments come as Robert Malenka, M.D., Ph.D., and Jim Trenkle, Ph.D., concluded their service on the Board after not standing for re-election. The new directors bring extensive experience in biotechnology and pharmaceutical operations to the clinical-stage company focused on central nervous system disorders.

Chris Kroeger, co-Founder and Chief Executive Officer of MapLight Therapeutics, highlighted the strategic value of the appointments. He stated that both Babler and Cox bring substantial strategic, operational, and governance experience, which will support the company as it executes its strategy to develop therapies for CNS disorders.

Board Appointments and Committee Roles

Mr. Babler has been appointed as a member of the Audit Committee. He currently serves as President, Chief Executive Officer, and Chairman of the Board of Alumis Inc., a position he has held since September 2021. His previous leadership roles include serving as President and Chief Executive Officer of Principia Biopharma Inc. until its acquisition by Sanofi S.A. in 2020, and President and Chief Executive Officer of Talima Therapeutics, Inc. Earlier in his career, he held leadership positions at Genentech, Inc., including Vice President, Immunology Sales and Marketing. Mr. Babler also serves on the board of directors of Prelude Therapeutics, Inc.

Mr. Cox has been appointed Chair of the Nominating and Corporate Governance Committee. He previously served as President and Chief Executive Officer of Foundation Medicine, Inc. from 2017 to 2019, including through its acquisition by Roche in 2018. Prior to that, he was a Senior Vice President at Genentech, Inc. and held executive roles at UCB BioPharmaceuticals, Sanofi-Aventis, and Schering-Plough. Mr. Cox currently serves as Chair of the board of directors of SOPHiA GENETICS SA and on the boards of Standard BioTools Inc. and Fuze Health.

About MapLight Therapeutics

MapLight Therapeutics is a clinical-stage biopharmaceutical company focused on improving the lives of patients suffering from debilitating central nervous system disorders. The company was founded by leaders in psychiatry and neuroscience research to address the lack of circuit-specific pharmacotherapies. Its discovery platform aims to identify neural circuits causally linked to disease and target them for therapeutic modulation.