MediciNova, Inc. (NASDAQ:MNOV) Receives $7.50 Consensus Target Price from Analysts

MediciNova, Inc. (NASDAQ:MNOV) has earned an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $7.50.

Several equities analysts have recently issued reports on the stock. D. Boral Capital reissued a “buy” rating and issued a $9.00 price target on shares of MediciNova in a report on Friday, January 30th. Zacks Research raised MediciNova to a “hold” rating in a research note on Tuesday, March 17th. Lucid Cap Mkts upgraded MediciNova to a “strong-buy” rating in a report on Monday, January 5th. Weiss Ratings restated a “sell (d-)” rating on shares of MediciNova in a report on Friday, March 27th. Finally, Maxim Group reaffirmed a “buy” rating and set a $6.00 price target on shares of MediciNova in a research report on Monday, March 23rd.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. State Street Corp boosted its holdings in shares of MediciNova by 10.9% in the fourth quarter. State Street Corp now owns 193,698 shares of the biopharmaceutical company’s stock valued at $254,000 after buying an additional 19,100 shares during the period. Jane Street Group LLC bought a new stake in MediciNova in the 4th quarter valued at $214,000. Citadel Advisors LLC acquired a new position in MediciNova in the 3rd quarter worth $92,000. Goldman Sachs Group Inc. acquired a new position in MediciNova in the 4th quarter worth $35,000. Finally, StoneX Group Inc. bought a new position in MediciNova during the 4th quarter worth about $25,000. Institutional investors own 9.90% of the company’s stock.

MediciNova Price Performance

Shares of MNOV stock opened at $1.46 on Friday. The stock has a market cap of $71.86 million, a PE ratio of -6.08 and a beta of 0.61. The stock has a 50-day moving average of $1.45 and a 200-day moving average of $1.44. MediciNova has a one year low of $1.17 and a one year high of $1.96.

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

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.