Shares of MediciNova, Inc. (NASDAQ:MNOV) have received an average broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.

Analysts have set a 12-month consensus target price of $20.67 for the company and are expecting that the company will post ($0.15) earnings per share for the current quarter, according to Zacks. Zacks has also assigned MediciNova an industry rank of 100 out of 256 based on the ratings given to its competitors.

Separately, BidaskClub downgraded MediciNova from a “sell” rating to a “strong sell” rating in a report on Friday, August 16th.

Institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can bought a new position in shares of MediciNova in the second quarter valued at $33,000. Marshall Wace LLP purchased a new stake in shares of MediciNova in the first quarter valued at $54,000. BNP Paribas Arbitrage SA purchased a new stake in shares of MediciNova in the first quarter valued at $69,000. Tower Research Capital LLC TRC lifted its holdings in shares of MediciNova by 72.1% in the second quarter. Tower Research Capital LLC TRC now owns 9,037 shares of the biopharmaceutical company’s stock valued at $87,000 after purchasing an additional 3,785 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its holdings in shares of MediciNova by 373.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 13,041 shares of the biopharmaceutical company’s stock valued at $107,000 after purchasing an additional 10,289 shares in the last quarter. 21.69% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ MNOV traded up $0.31 on Wednesday, hitting $9.15. The company’s stock had a trading volume of 108,700 shares, compared to its average volume of 100,099. MediciNova has a 1-year low of $6.68 and a 1-year high of $13.37. The company’s 50-day moving average is $9.28 and its 200 day moving average is $9.61. The firm has a market cap of $391.97 million, a PE ratio of -25.42 and a beta of 1.19.

MediciNova Company Profile

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. The company is developing MN-166 (ibudilast), an oral anti-inflammatory and neuroprotective agent for treating neurological 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.

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