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

MediciNova, Inc. (NASDAQ:MNOV) has earned a consensus recommendation of “Moderate Buy” from the five research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $7.00.

Several research firms have issued reports on MNOV. Lucid Cap Mkts raised shares of MediciNova to a “strong-buy” rating in a research note on Monday, January 5th. D. Boral Capital reissued a “buy” rating and set a $9.00 price objective on shares of MediciNova in a research note on Friday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MediciNova in a research note on Monday, December 29th.

MediciNova Stock Performance

Shares of NASDAQ:MNOV opened at $1.72 on Friday. The business’s fifty day moving average price is $1.50 and its two-hundred day moving average price is $1.38. The stock has a market cap of $84.54 million, a PE ratio of -6.88 and a beta of 0.52. MediciNova has a one year low of $1.13 and a one year high of $2.06.

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, beating the consensus estimate of ($0.08) by $0.02. The company had revenue of $0.12 million during the quarter. As a group, equities research analysts predict that MediciNova will post -0.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MediciNova

A hedge fund recently bought a new stake in MediciNova stock. Citadel Advisors LLC purchased a new stake in MediciNova, Inc. (NASDAQ:MNOV) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 72,897 shares of the biopharmaceutical company’s stock, valued at approximately $92,000. Citadel Advisors LLC owned 0.15% of MediciNova at the end of the most recent reporting period. Hedge funds and other 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.