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

MediciNova, Inc. (NASDAQ:MNOV) has been given a consensus recommendation of “Moderate Buy” by the six research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $8.3333.

Several research firms have recently commented on MNOV. HC Wainwright started coverage on MediciNova in a report on Monday, March 16th. They issued a “buy” rating and a $10.00 price objective for the company. D. Boral Capital restated a “buy” rating and issued a $9.00 price target on shares of MediciNova in a research note on Monday, May 4th. Weiss Ratings restated a “sell (d-)” rating on shares of MediciNova in a research note on Wednesday, June 24th. Maxim Group restated a “buy” rating and issued a $6.00 price target on shares of MediciNova in a research note on Monday, March 23rd. Finally, Zacks Research upgraded MediciNova to a “hold” rating in a research note on Tuesday, March 17th.

Institutional Investors Weigh In On MediciNova

A number of large investors have recently added to or reduced their stakes in MNOV. Citadel Advisors LLC bought a new stake in MediciNova in the 3rd quarter valued at $92,000. Goldman Sachs Group Inc. bought a new stake in MediciNova in the 4th quarter valued at $35,000. StoneX Group Inc. bought a new stake in MediciNova in the 4th quarter valued at $25,000. Jane Street Group LLC bought a new stake in MediciNova in the 4th quarter valued at $214,000. Finally, State Street Corp raised its stake in MediciNova by 10.9% in the 4th quarter. State Street Corp now owns 193,698 shares of the biopharmaceutical company’s stock valued at $254,000 after acquiring an additional 19,100 shares during the period. Institutional investors own 9.90% of the company’s stock.

MediciNova Trading Up 0.8%

NASDAQ MNOV opened at $1.32 on Wednesday. The company has a market cap of $64.97 million, a PE ratio of -5.74 and a beta of 0.62. MediciNova has a 12 month low of $1.17 and a 12 month high of $1.96. The stock has a 50 day moving average of $1.35 and a 200-day moving average of $1.44.

MediciNova (NASDAQ:MNOV) last released its quarterly earnings data on Thursday, May 14th. The biopharmaceutical company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.01. The company had revenue of $0.19 million during the quarter, compared to the consensus estimate of $0.19 million. MediciNova had a negative return on equity of 27.28% and a negative net margin of 1,962.98%. As a group, sell-side analysts predict that MediciNova will post -0.26 EPS for the current fiscal year.

MediciNova Company Profile

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.