MediciNova (NASDAQ:MNOV) Upgraded by Lucid Cap Mkts to “Strong-Buy” Rating

MediciNova (NASDAQ:MNOV) was upgraded by investment analysts at Lucid Cap Mkts to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

A number of other equities analysts also recently issued reports on MNOV. D. Boral Capital reaffirmed a “buy” rating and set a $9.00 price target on shares of MediciNova in a research report on Thursday, December 18th. Weiss Ratings restated a “sell (d-)” rating on shares of MediciNova in a research note on Monday, December 29th. Finally, Zacks Research raised MediciNova to a “hold” rating in a research report on Thursday, September 11th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $7.00.

MediciNova Price Performance

Shares of MediciNova stock opened at $1.38 on Monday. The firm’s 50 day moving average price is $1.43 and its 200-day moving average price is $1.34. MediciNova has a 52-week low of $1.13 and a 52-week high of $2.15. The company has a market cap of $67.83 million, a P/E ratio of -5.52 and a beta of 0.52.

MediciNova (NASDAQ:MNOV) last posted its earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $0.12 million for the quarter. As a group, equities research analysts forecast that MediciNova will post -0.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in MediciNova stock. Citadel Advisors LLC acquired a new position in MediciNova, Inc. (NASDAQ:MNOV) in the 3rd 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 about 0.15% of MediciNova as of its most recent SEC filing. 9.90% of the stock is currently owned by institutional investors and hedge funds.

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.