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

Shares of MediciNova, Inc. (NASDAQ:MNOV) have received an average rating of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $8.3333.

A number of brokerages have recently commented on MNOV. D. Boral Capital reissued a “buy” rating and set a $9.00 price objective on shares of MediciNova in a research report on Monday, May 4th. Weiss Ratings downgraded shares of MediciNova from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th.

Hedge Funds Weigh In On MediciNova

A number of institutional investors and hedge funds have recently modified their holdings of the company. StoneX Group Inc. purchased a new position in MediciNova in the fourth quarter valued at $25,000. Goldman Sachs Group Inc. purchased a new stake in MediciNova during the 4th quarter worth about $35,000. Citadel Advisors LLC acquired a new position in shares of MediciNova during the 3rd quarter worth about $92,000. Bank of New York Mellon Corp acquired a new position in shares of MediciNova during the 2nd quarter worth about $103,000. Finally, Jane Street Group LLC purchased a new position in shares of MediciNova in the 4th quarter valued at about $214,000. Institutional investors and hedge funds own 9.90% of the company’s stock.

MediciNova Stock Down 5.7%

Shares of MNOV opened at $1.48 on Thursday. The company has a market cap of $72.85 million, a P/E ratio of -7.05 and a beta of 0.63. MediciNova has a fifty-two week low of $1.17 and a fifty-two week high of $1.96. The firm’s 50 day moving average price is $1.36 and its 200 day moving average price is $1.39.

MediciNova (NASDAQ:MNOV) last announced its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.01. MediciNova had a negative return on equity of 26.51% and a negative net margin of 1,168.70%.The business had revenue of $0.46 million for the quarter, compared to analysts’ expectations of $0.07 million. Research analysts forecast that MediciNova will post -0.28 earnings per share for the current 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.