D. Boral Capital Reiterates “Buy” Rating for MediciNova (NASDAQ:MNOV)

MediciNova (NASDAQ:MNOV)‘s stock had its “buy” rating reaffirmed by equities researchers at D. Boral Capital in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $9.00 price objective on the biopharmaceutical company’s stock. D. Boral Capital’s price target suggests a potential upside of 484.42% from the company’s current price.

Several other brokerages have also recently issued reports on MNOV. Weiss Ratings restated a “sell (d-)” rating on shares of MediciNova in a report on Monday, December 1st. Zacks Research raised shares of MediciNova to a “hold” rating in a research report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $7.00.

MediciNova Trading Up 2.0%

MNOV opened at $1.54 on Monday. MediciNova has a 12 month low of $1.13 and a 12 month high of $2.29. The business’s 50-day moving average price is $1.37 and its 200-day moving average price is $1.33. The company has a market cap of $75.69 million, a P/E ratio of -6.16 and a beta of 0.48.

MediciNova (NASDAQ:MNOV) last issued its earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.02. The company had revenue of $0.12 million for the quarter. Equities research analysts forecast that MediciNova will post -0.24 earnings per share for the current fiscal year.

Institutional Trading of MediciNova

An institutional investor recently bought a new position in MediciNova stock. Citadel Advisors LLC bought a new position in shares of MediciNova, Inc. (NASDAQ:MNOV) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 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. Institutional investors and hedge funds own 9.90% of the company’s stock.

About MediciNova

MediciNova, Inc, a biopharmaceutical company, focuses on developing novel and small molecule therapeutics for the treatment of serious diseases with unmet medical needs in the United States. It is developing MN-166 (ibudilast), an oral anti-inflammatory and neuroprotective agent for treating neurological and other disorders, such as primary and secondary progressive multiple sclerosis, amyotrophic lateral sclerosis, chemotherapy-induced peripheral neuropathy, degenerative cervical myelopathy, glioblastoma, and substance dependence and addiction, as well as prevention of acute respiratory distress syndrome, and long COVID.