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

MediciNova (NASDAQ:MNOV)‘s stock had its “buy” rating reaffirmed by investment analysts at D. Boral Capital in a report issued on Thursday,Benzinga reports. They currently have a $9.00 target price on the biopharmaceutical company’s stock.

A number of other brokerages also recently issued reports on MNOV. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MediciNova in a report on Monday. Zacks Research upgraded shares of MediciNova to a “hold” rating in a research report on Thursday, September 11th. One research 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $7.00.

MediciNova Trading Down 1.4%

MediciNova stock opened at $1.43 on Thursday. MediciNova has a 12 month low of $1.13 and a 12 month high of $2.22. The stock has a fifty day simple moving average of $1.41 and a two-hundred day simple moving average of $1.34. The firm has a market cap of $70.28 million, a price-to-earnings ratio of -5.72 and a beta of 0.48.

MediciNova (NASDAQ:MNOV) last announced its quarterly earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The business had revenue of $0.12 million for the quarter. On average, equities research analysts forecast that MediciNova will post -0.24 EPS 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 stake in shares of MediciNova, Inc. (NASDAQ:MNOV) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 72,897 shares of the biopharmaceutical company’s stock, valued at approximately $92,000. Citadel Advisors LLC owned approximately 0.15% of MediciNova as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 9.90% of the company’s stock.

About MediciNova

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.