MediciNova, Inc. (NASDAQ:MNOV) Receives $7.00 Consensus PT from Analysts

Shares of MediciNova, Inc. (NASDAQ:MNOV) have received an average recommendation of “Moderate Buy” from the five brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, one has assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $7.00.

Several equities analysts have weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of MediciNova in a research report on Monday, December 29th. D. Boral Capital reiterated a “buy” rating and set a $9.00 price objective on shares of MediciNova in a research report on Friday, January 30th. Finally, Lucid Cap Mkts upgraded shares of MediciNova to a “strong-buy” rating in a report on Monday, January 5th.

MediciNova Trading Down 1.2%

NASDAQ:MNOV opened at $1.64 on Friday. The company has a market capitalization of $80.61 million, a P/E ratio of -6.56 and a beta of 0.55. The firm has a 50-day moving average price of $1.50 and a two-hundred day moving average price of $1.39. MediciNova has a twelve month low of $1.13 and a twelve month high of $2.04.

MediciNova (NASDAQ:MNOV) last released its quarterly earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.02. The business had revenue of $0.12 million during the quarter. On average, equities research analysts predict that MediciNova will post -0.24 earnings per share for the current year.

Institutional Trading of MediciNova

An institutional investor recently bought a new position in MediciNova stock. Citadel Advisors LLC purchased a new stake in MediciNova, Inc. (NASDAQ:MNOV) in the 3rd quarter, according to its most recent 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 about 0.15% of MediciNova as of its most recent filing with the SEC. 9.90% of the stock is owned by hedge funds and other institutional investors.

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.