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

Shares of MediciNova, Inc. (NASDAQ:MNOV) have been assigned a consensus rating of “Moderate Buy” from the five ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $7.00.

A number of research firms have issued reports on MNOV. Lucid Cap Mkts raised MediciNova to a “strong-buy” rating in a research report on Monday, January 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MediciNova in a report on Monday, December 29th. Finally, D. Boral Capital reissued a “buy” rating and set a $9.00 target price on shares of MediciNova in a research report on Friday.

MediciNova Stock Performance

Shares of MNOV stock opened at $1.72 on Friday. MediciNova has a one year low of $1.13 and a one year high of $2.06. The company has a 50 day moving average price of $1.50 and a 200 day moving average price of $1.38. The firm has a market capitalization of $84.54 million, a price-to-earnings ratio of -6.88 and a beta of 0.52.

MediciNova (NASDAQ:MNOV) last announced its quarterly earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $0.12 million during the quarter. As a group, equities 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 purchased a new stake in MediciNova, Inc. (NASDAQ:MNOV) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 72,897 shares of the biopharmaceutical company’s stock, valued at approximately $92,000. Citadel Advisors LLC owned approximately 0.15% of MediciNova at the end of the most recent quarter. 9.90% of the stock is owned by hedge funds and other institutional investors.

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.