Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTLaiba ImmadTue, June 30, 2026 at 3:22 PM GMT+2 2 min readWe recently compiled a list of the 10 Best Biotech Stocks to Buy According to Analysts. MapLight Therapeutics, Inc. (NASDAQ:MPLT) is one of the best biotech stocks on this list.TheFly reported on June 24 that Raymond James initiated coverage of MPLT with a Strong Buy rating and a $46 price target. The firm highlighted Cobenfy as a significant advancement in schizophrenia treatment but noted challenges related to treatment persistence. Raymond James sees potential upside ahead of the Phase 2 ZEPHYR trial readout for ML-007C-MA, expected by mid-August. The firm also identified MPLT's Alzheimer's disease psychosis program as a potential value driver, despite limited investor attention toward Alzheimer 's-focused opportunities.Is Crinetics Pharmaceuticals, Inc. (CRNX) Stock Positioned for Growth After Promising Atumelnant Clinical Results?Separately, on June 22, MapLight Therapeutics, Inc. (NASDAQ:MPLT) announced topline findings from its Phase 2 IRIS trial evaluating ML-004 in autism spectrum disorder (ASD). The study enrolled 161 participants and assessed multiple measures, including social communication and irritability outcomes. While the trial did not achieve its primary endpoint related to social communication improvement at Week 12, a prespecified analysis showed ML-004 produced clinically meaningful improvements in irritability among adolescents with moderate or higher baseline irritability compared with placebo. The treatment also demonstrated positive trends on clinician-rated irritability measures. ML-004 was generally well tolerated, with mostly mild-to-moderate adverse events and no severe safety concerns reported in treated participants.MapLight Therapeutics, Inc. (NASDAQ:MPLT) is a clinical-stage biopharmaceutical company developing targeted treatments for central nervous system disorders using advanced neurotechnologies.While we acknowledge the potential of MPLT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years Disclosure: None. Follow Insider Monkey on Google News.Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info