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

MediciNova (NASDAQ:MNOV)‘s stock had its “buy” rating restated 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 target price would suggest a potential upside of 486.32% from the stock’s previous close.

A number of other equities analysts also recently commented on MNOV. Weiss Ratings reissued a “sell (d-)” rating on shares of MediciNova in a research note on Monday, December 1st. Zacks Research upgraded MediciNova to a “hold” rating in a research report on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $7.00.

MediciNova Price Performance

Shares of MNOV stock traded down $0.03 during mid-day trading on Monday, hitting $1.54. The stock had a trading volume of 23,181 shares, compared to its average volume of 280,327. MediciNova has a 12-month low of $1.13 and a 12-month high of $2.37. The firm’s 50-day moving average is $1.36 and its two-hundred day moving average is $1.33.

MediciNova (NASDAQ:MNOV) last released its quarterly earnings data 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 firm had revenue of $0.12 million during the quarter. On average, analysts predict 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 MediciNova, Inc. (NASDAQ:MNOV) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 72,897 shares of the biopharmaceutical company’s stock, valued at approximately $92,000. Citadel Advisors LLC owned about 0.15% of MediciNova at the end of the most recent reporting period. Institutional investors own 9.90% of the company’s stock.

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. 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.