MediciNova, Inc. (NASDAQ:MNOV) Receives Consensus Rating of “Moderate Buy” from Brokerages

by · The Cerbat Gem

Shares of MediciNova, Inc. (NASDAQ:MNOV – Get Free Report) have received a consensus rating of “Moderate Buy” from the five ratings firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, one has issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $7.00.

Several equities analysts have weighed in on MNOV shares. Lucid Cap Mkts upgraded MediciNova to a “strong-buy” rating in a report on Monday. D. Boral Capital reaffirmed a “buy” rating and set a $9.00 target price on shares of MediciNova in a research report on Thursday, December 18th. Zacks Research upgraded MediciNova to a “hold” rating in a report on Thursday, September 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of MediciNova in a research note on Monday, December 29th.

Get Our Latest Research Report on MediciNova

MediciNova Price Performance

NASDAQ MNOV opened at $1.38 on Wednesday. The stock has a market capitalization of $67.83 million, a PE ratio of -5.52 and a beta of 0.52. MediciNova has a 12-month low of $1.13 and a 12-month high of $2.15. The company has a 50 day moving average price of $1.43 and a two-hundred day moving average price of $1.34.

MediciNova (NASDAQ:MNOV – Get Free Report) last announced its quarterly earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. The business had revenue of $0.12 million for the quarter. As a group, equities analysts anticipate that MediciNova will post -0.24 EPS for the current year.

Institutional Investors Weigh In On MediciNova

An institutional investor recently bought a new position in MediciNova stock. Citadel Advisors LLC acquired a new position in MediciNova, Inc. (NASDAQ:MNOV – Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 72,897 shares of the biopharmaceutical company’s stock, valued at approximately $92,000. Citadel Advisors LLC owned 0.15% of MediciNova as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 9.90% of the company’s stock.

MediciNova Company Profile

(Get Free Report)

MediciNova, Inc is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel small-molecule therapeutics for neurodegenerative, inflammatory, fibrotic and oncological diseases. Founded in the late 1990s, the company advances its proprietary compounds through clinical trials and strategic partnerships, with a goal of addressing areas of high unmet medical need. MediciNova is headquartered in San Diego, California, and maintains a presence in Tokyo to support collaborations and regulatory interactions in Asian markets.

The company’s leading clinical asset, MN-166 (ibudilast), is an anti-inflammatory and neuroprotective agent originally approved in Japan for asthma and post-stroke dizziness.

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