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

MediciNova, Inc. (NASDAQ:MNOV) has earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $8.3333.

Several brokerages have weighed in on MNOV. D. Boral Capital reissued a “buy” rating and set a $9.00 price target on shares of MediciNova in a research report on Monday, May 4th. Weiss Ratings restated a “sell (d-)” rating on shares of MediciNova in a research report on Wednesday, June 24th.

MediciNova Price Performance

Shares of MNOV stock opened at $1.32 on Friday. The business has a 50-day moving average of $1.35 and a 200 day moving average of $1.44. MediciNova has a 1-year low of $1.17 and a 1-year high of $1.96. The stock has a market capitalization of $64.97 million, a PE ratio of -5.74 and a beta of 0.62.

MediciNova (NASDAQ:MNOV) last announced its quarterly earnings data on Thursday, May 14th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01. MediciNova had a negative return on equity of 27.28% and a negative net margin of 1,962.98%.The firm had revenue of $0.19 million during the quarter, compared to the consensus estimate of $0.19 million. Analysts anticipate that MediciNova will post -0.26 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. State Street Corp raised its position in MediciNova by 10.9% during the 4th quarter. State Street Corp now owns 193,698 shares of the biopharmaceutical company’s stock valued at $254,000 after purchasing an additional 19,100 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of MediciNova in the 4th quarter worth approximately $214,000. Citadel Advisors LLC bought a new stake in shares of MediciNova in the 3rd quarter worth approximately $92,000. Goldman Sachs Group Inc. purchased a new position in shares of MediciNova during the fourth quarter valued at approximately $35,000. Finally, StoneX Group Inc. purchased a new position in shares of MediciNova during the fourth quarter valued at approximately $25,000. Hedge funds and other 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.