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

Shares of MediciNova, Inc. (NASDAQ:MNOV) have been given an average recommendation of “Moderate Buy” by the five research firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, one has assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $7.00.

MNOV has been the subject of a number of research reports. D. Boral Capital reaffirmed a “buy” rating and issued a $9.00 price objective on shares of MediciNova in a research note on Friday, January 30th. Weiss Ratings restated a “sell (d-)” rating on shares of MediciNova in a report on Monday, December 29th. Finally, Lucid Cap Mkts upgraded shares of MediciNova to a “strong-buy” rating in a research note on Monday, January 5th.

Hedge Funds Weigh In On MediciNova

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 3rd quarter, according to its most recent filing 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 approximately 0.15% of MediciNova at the end of the most recent quarter. Institutional investors own 9.90% of the company’s stock.

MediciNova Price Performance

NASDAQ MNOV opened at $1.62 on Friday. MediciNova has a 12 month low of $1.13 and a 12 month high of $2.04. The stock has a market capitalization of $79.62 million, a P/E ratio of -6.48 and a beta of 0.55. The firm’s 50-day moving average is $1.51 and its two-hundred day moving average is $1.39.

MediciNova (NASDAQ:MNOV) last released its quarterly earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $0.12 million during the quarter. As a group, analysts anticipate that MediciNova will post -0.24 EPS 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.