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

Shares of MediciNova, Inc. (NASDAQ:MNOV) have been assigned a consensus recommendation 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 recommendation, one has assigned a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $8.3333.

A number of research analysts have commented on MNOV shares. HC Wainwright started coverage on MediciNova in a report on Monday, March 16th. They issued a “buy” rating and a $10.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MediciNova in a report on Wednesday, June 24th. Maxim Group reaffirmed a “buy” rating and issued a $6.00 price objective on shares of MediciNova in a report on Monday, March 23rd. Zacks Research raised MediciNova to a “hold” rating in a report on Tuesday, March 17th. Finally, D. Boral Capital reaffirmed a “buy” rating and issued a $9.00 price objective on shares of MediciNova in a report on Monday, May 4th.

MediciNova Price Performance

Shares of NASDAQ MNOV opened at $1.32 on Wednesday. The stock’s fifty day moving average price is $1.35 and its two-hundred day moving average price is $1.44. MediciNova has a one year low of $1.17 and a one year high of $1.96. The firm has a market cap of $64.97 million, a price-to-earnings ratio of -5.74 and a beta of 0.62.

MediciNova (NASDAQ:MNOV) last issued its quarterly earnings data on Thursday, May 14th. The biopharmaceutical company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. MediciNova had a negative return on equity of 27.28% and a negative net margin of 1,962.98%.The firm had revenue of $0.19 million for the quarter, compared to analyst estimates of $0.19 million. On average, equities analysts anticipate that MediciNova will post -0.26 earnings per share for the current fiscal year.

Institutional Trading of MediciNova

Large investors have recently modified their holdings of the stock. StoneX Group Inc. acquired a new stake in shares of MediciNova during the 4th quarter worth $25,000. Goldman Sachs Group Inc. acquired a new stake in shares of MediciNova during the 4th quarter worth $35,000. Citadel Advisors LLC acquired a new stake in shares of MediciNova during the 3rd quarter worth $92,000. Jane Street Group LLC acquired a new stake in shares of MediciNova during the 4th quarter worth $214,000. Finally, State Street Corp grew 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 worth $254,000 after purchasing an additional 19,100 shares in the last quarter. 9.90% of the stock is owned by institutional investors and hedge funds.

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.