MediciNova, Inc. (NASDAQ:MNOV) Receives $7.00 Average Price Target from Brokerages

MediciNova, Inc. (NASDAQ:MNOV) has received a consensus rating of “Moderate Buy” from the five brokerages that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, one has issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $7.00.

Several research firms recently commented on MNOV. Weiss Ratings restated a “sell (d-)” rating on shares of MediciNova in a research report on Monday, December 29th. Lucid Cap Mkts upgraded MediciNova to a “strong-buy” rating in a research note on Monday, January 5th. Finally, D. Boral Capital restated a “buy” rating and issued a $9.00 target price on shares of MediciNova in a research note on Thursday, December 18th.

MediciNova Price Performance

Shares of MediciNova stock opened at $1.45 on Wednesday. MediciNova has a 52-week low of $1.13 and a 52-week high of $2.06. The firm has a market capitalization of $71.26 million, a PE ratio of -5.80 and a beta of 0.52. The company’s fifty day moving average price is $1.44 and its two-hundred day moving average price is $1.34.

MediciNova (NASDAQ:MNOV) last posted its earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The business had revenue of $0.12 million during the quarter. Analysts predict that MediciNova will post -0.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in MediciNova stock. Citadel Advisors LLC acquired a new stake in MediciNova, Inc. (NASDAQ:MNOV) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 filing with the Securities and Exchange Commission (SEC). 9.90% of the stock is currently owned by institutional investors.

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.