MediciNova (NASDAQ:MNOV) Shares Pass Above 200 Day Moving Average – What’s Next?

MediciNova, Inc. (NASDAQ:MNOV)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.36 and traded as high as $1.69. MediciNova shares last traded at $1.66, with a volume of 91,146 shares traded.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MNOV. D. Boral Capital restated a “buy” rating and set a $9.00 price target on shares of MediciNova in a research note on Thursday, December 18th. Lucid Cap Mkts raised shares of MediciNova to a “strong-buy” rating in a report on Monday, January 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of MediciNova in a research report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, MediciNova has a consensus rating of “Moderate Buy” and a consensus target price of $7.00.

MediciNova Trading Down 1.2%

The firm has a market cap of $81.59 million, a P/E ratio of -6.64 and a beta of 0.52. The stock’s fifty day moving average is $1.45 and its two-hundred day moving average is $1.36.

MediciNova (NASDAQ:MNOV) last issued its quarterly earnings data 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 business had revenue of $0.12 million during the quarter. On average, analysts forecast that MediciNova, Inc. will post -0.24 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in MediciNova stock. Citadel Advisors LLC bought a new stake in MediciNova, Inc. (NASDAQ:MNOV) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (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 as of its most recent SEC filing. Institutional investors and hedge funds 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.