D. Boral Capital Reaffirms “Buy” Rating for MediciNova (NASDAQ:MNOV)

MediciNova (NASDAQ:MNOV)‘s stock had its “buy” rating reissued by research analysts at D. Boral Capital in a report issued on Friday,Benzinga reports. They currently have a $9.00 target price on the biopharmaceutical company’s stock. D. Boral Capital’s price target would suggest a potential upside of 423.26% from the stock’s previous close.

MNOV has been the topic of several other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of MediciNova in a report on Monday, December 29th. Lucid Cap Mkts upgraded MediciNova to a “strong-buy” rating in a research report on Monday, January 5th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, MediciNova currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.00.

MediciNova Trading Down 1.7%

Shares of NASDAQ MNOV opened at $1.72 on Friday. The firm has a 50-day moving average of $1.50 and a two-hundred day moving average of $1.38. MediciNova has a twelve month low of $1.13 and a twelve month high of $2.06. The company has a market capitalization of $84.54 million, a price-to-earnings ratio of -6.88 and a beta of 0.52.

MediciNova (NASDAQ:MNOV) last announced its quarterly earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.02. The business had revenue of $0.12 million during the quarter. As a group, research analysts predict that MediciNova will post -0.24 earnings per share for the current year.

Hedge Funds Weigh In On MediciNova

A hedge fund recently bought a new stake in MediciNova stock. Citadel Advisors LLC acquired a new position in shares of MediciNova, Inc. (NASDAQ:MNOV) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 72,897 shares of the biopharmaceutical company’s stock, valued at approximately $92,000. Citadel Advisors LLC owned 0.15% of MediciNova as of its most recent SEC filing. Institutional investors and hedge funds own 9.90% of the company’s stock.

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.