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

MediciNova, Inc. (NASDAQ:MNOV) has been given a consensus rating of “Moderate Buy” by the five ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $7.00.

A number of equities analysts have recently commented on the company. Lucid Cap Mkts raised MediciNova to a “strong-buy” rating in a research report on Monday, January 5th. Weiss Ratings restated a “sell (d-)” rating on shares of MediciNova in a report on Monday, December 29th. Finally, D. Boral Capital reiterated a “buy” rating and set a $9.00 target price on shares of MediciNova in a research note on Friday, January 30th.

Institutional Trading of MediciNova

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

MediciNova Stock Up 2.1%

MediciNova stock opened at $1.44 on Thursday. MediciNova has a 52-week low of $1.13 and a 52-week high of $1.96. The firm has a market cap of $70.78 million, a PE ratio of -6.00 and a beta of 0.58. The company’s 50 day moving average is $1.53 and its two-hundred day moving average is $1.41.

MediciNova (NASDAQ:MNOV) last announced its quarterly earnings data on Friday, February 20th. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.05. The company had revenue of $0.15 million during the quarter. On average, equities research analysts anticipate that MediciNova will post -0.24 earnings per share for the current fiscal year.

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.