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

MediciNova, Inc. (NASDAQ:MNOV) has been assigned a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $7.00.

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

MediciNova Stock Performance

MNOV opened at $1.60 on Friday. The company has a market cap of $78.63 million, a PE ratio of -6.40 and a beta of 0.55. The stock has a 50-day moving average of $1.51 and a 200-day moving average of $1.39. MediciNova has a 52-week low of $1.13 and a 52-week high of $2.04.

MediciNova (NASDAQ:MNOV) last announced its earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $0.12 million for the quarter. On average, research analysts predict that MediciNova will post -0.24 earnings per share for the current year.

Institutional Investors Weigh In On MediciNova

An institutional investor recently bought a new position in MediciNova stock. Citadel Advisors LLC bought a new stake in shares of MediciNova, Inc. (NASDAQ:MNOV) in the 3rd quarter, according to its most recent filing with the SEC. 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.

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.