Analysts Set MediciNova, Inc. (NASDAQ:MNOV) PT at $7.00

MediciNova, Inc. (NASDAQ:MNOV) has received a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, one has assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $7.00.

Several equities analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of MediciNova in a report on Monday, December 29th. D. Boral Capital reaffirmed a “buy” rating and set a $9.00 target price on shares of MediciNova in a research report on Friday, January 30th. Finally, Lucid Cap Mkts raised MediciNova to a “strong-buy” rating in a research report on Monday, January 5th.

Institutional Trading of MediciNova

A number of institutional investors have recently modified their holdings of the company. StoneX Group Inc. purchased a new position in shares of MediciNova in the 4th quarter worth approximately $25,000. Goldman Sachs Group Inc. acquired a new stake in MediciNova in the fourth quarter valued at approximately $35,000. Citadel Advisors LLC purchased a new position in MediciNova in the third quarter worth $92,000. Jane Street Group LLC acquired a new position in shares of MediciNova during the fourth quarter worth $214,000. Finally, State Street Corp lifted its holdings in shares of MediciNova by 10.9% during the 4th quarter. State Street Corp now owns 193,698 shares of the biopharmaceutical company’s stock valued at $254,000 after purchasing an additional 19,100 shares during the last quarter. 9.90% of the stock is currently owned by institutional investors.

MediciNova Price Performance

Shares of NASDAQ MNOV opened at $1.45 on Thursday. The stock has a market capitalization of $71.27 million, a P/E ratio of -6.04 and a beta of 0.55. MediciNova has a 1-year low of $1.13 and a 1-year high of $1.96. The business’s 50 day moving average is $1.52 and its two-hundred day moving average is $1.41.

MediciNova (NASDAQ:MNOV) last released its quarterly earnings data on Friday, February 20th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. The business had revenue of $0.15 million during the quarter. As a group, 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.