MediciNova’s (MNOV) Buy Rating Reaffirmed at D. Boral Capital

MediciNova (NASDAQ:MNOV)‘s stock had its “buy” rating reissued by analysts at D. Boral Capital in a research note issued on Friday,Benzinga reports. They presently have a $9.00 price objective on the biopharmaceutical company’s stock. D. Boral Capital’s target price suggests a potential upside of 414.29% from the company’s current price.

A number of other research firms also recently issued reports on MNOV. Weiss Ratings reissued 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. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $7.00.

MediciNova Stock Performance

MNOV opened at $1.75 on Friday. The firm has a market cap of $86.01 million, a P/E ratio of -7.00 and a beta of 0.52. MediciNova has a fifty-two week low of $1.13 and a fifty-two week high of $2.06. The firm has a 50-day moving average of $1.49 and a 200 day moving average of $1.37.

MediciNova (NASDAQ:MNOV) last released 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 company had revenue of $0.12 million during the quarter. Equities research analysts predict that MediciNova will post -0.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in MediciNova stock. Citadel Advisors LLC purchased a new stake in shares of MediciNova, Inc. (NASDAQ:MNOV) in the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 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 reporting period. Institutional investors own 9.90% of the company’s stock.

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.