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

Shares of MediciNova, Inc. (NASDAQ:MNOV) have earned an average rating of “Moderate Buy” from the five brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has given 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 brokerages that have issued a report on the stock in the last year is $7.00.

Several equities analysts have recently weighed in on MNOV shares. Lucid Cap Mkts upgraded MediciNova to a “strong-buy” rating in a research report on Monday, January 5th. D. Boral Capital reaffirmed a “buy” rating and set a $9.00 target price on shares of MediciNova in a report on Friday, January 30th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MediciNova in a research report on Monday, December 29th.

Institutional Trading of MediciNova

Several institutional investors and hedge funds have recently bought and sold shares of MNOV. State Street Corp lifted its position in MediciNova by 10.9% in the 4th quarter. State Street Corp now owns 193,698 shares of the biopharmaceutical company’s stock worth $254,000 after buying an additional 19,100 shares during the last quarter. StoneX Group Inc. purchased a new position in shares of MediciNova during the fourth quarter worth approximately $25,000. Goldman Sachs Group Inc. bought a new stake in shares of MediciNova in the 4th quarter worth approximately $35,000. Citadel Advisors LLC purchased a new position in MediciNova in the 3rd quarter worth $92,000. Finally, Jane Street Group LLC bought a new stake in MediciNova in the fourth quarter worth $214,000. 9.90% of the stock is currently owned by hedge funds and other institutional investors.

MediciNova Stock Up 9.6%

NASDAQ MNOV opened at $1.48 on Thursday. The firm has a market cap of $72.74 million, a P/E ratio of -6.17 and a beta of 0.55. The company’s 50 day moving average is $1.52 and its 200-day moving average is $1.41. MediciNova has a 12-month low of $1.13 and a 12-month high of $1.96.

MediciNova (NASDAQ:MNOV) last released its quarterly earnings data on Friday, February 20th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.05. The business had revenue of $0.15 million during the quarter. Equities analysts expect that MediciNova will post -0.24 EPS for the current year.

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.