MediciNova (NASDAQ:MNOV) Now Covered by HC Wainwright

HC Wainwright began coverage on shares of MediciNova (NASDAQ:MNOV) in a research report issued to clients and investors on Monday,Benzinga reports. The firm set a “buy” rating and a $10.00 price target on the biopharmaceutical company’s stock.

A number of other research firms also recently weighed in on MNOV. Lucid Cap Mkts upgraded MediciNova to a “strong-buy” rating in a research report on Monday, January 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MediciNova in a report on Monday, December 29th. Finally, D. Boral Capital reiterated a “buy” rating and issued a $9.00 price objective on shares of MediciNova in a research report on Friday, January 30th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, MediciNova has an average rating of “Moderate Buy” and a consensus target price of $8.00.

MediciNova Price Performance

MNOV opened at $1.35 on Monday. The stock has a market capitalization of $66.45 million, a P/E ratio of -5.62 and a beta of 0.58. The company’s 50 day simple moving average is $1.54 and its 200-day simple moving average is $1.42. MediciNova has a one year low of $1.13 and a one year high of $1.96.

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

Hedge Funds Weigh In On MediciNova

Several institutional investors and hedge funds have recently modified their holdings of the business. Citadel Advisors LLC bought a new stake in MediciNova during the 3rd quarter worth approximately $92,000. Goldman Sachs Group Inc. bought a new position in MediciNova in the fourth quarter valued at approximately $35,000. StoneX Group Inc. bought a new stake in shares of MediciNova during the fourth quarter worth $25,000. Jane Street Group LLC acquired a new stake in shares of MediciNova during the fourth quarter worth $214,000. Finally, 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 valued at $254,000 after acquiring an additional 19,100 shares in the last quarter. 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.