MediciNova’s (MNOV) “Buy” Rating Reiterated at D. Boral Capital

D. Boral Capital reiterated their buy rating on shares of MediciNova (NASDAQ:MNOV) in a research report released on Monday morning,Benzinga reports. D. Boral Capital currently has a $9.00 price target on the biopharmaceutical company’s stock.

A number of other equities analysts have also commented on MNOV. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MediciNova in a research note on Monday, December 1st. Zacks Research raised shares of MediciNova to a “hold” rating in a report on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, MediciNova presently has an average rating of “Moderate Buy” and a consensus target price of $7.00.

MediciNova Trading Down 1.9%

MediciNova stock opened at $1.51 on Monday. The stock’s 50 day moving average is $1.38 and its 200-day moving average is $1.33. The company has a market capitalization of $74.22 million, a price-to-earnings ratio of -6.04 and a beta of 0.48. MediciNova has a 12 month low of $1.13 and a 12 month high of $2.24.

MediciNova (NASDAQ:MNOV) last released its quarterly 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. As a group, equities research analysts predict that MediciNova will post -0.24 earnings per share for the current fiscal year.

Institutional Trading of MediciNova

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

About MediciNova

MediciNova, Inc, a biopharmaceutical company, focuses on developing novel and small molecule therapeutics for the treatment of serious diseases with unmet medical needs in the United States. It is developing MN-166 (ibudilast), an oral anti-inflammatory and neuroprotective agent for treating neurological and other disorders, such as primary and secondary progressive multiple sclerosis, amyotrophic lateral sclerosis, chemotherapy-induced peripheral neuropathy, degenerative cervical myelopathy, glioblastoma, and substance dependence and addiction, as well as prevention of acute respiratory distress syndrome, and long COVID.