MediciNova, Inc. (NASDAQ:MNOV) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of MediciNova, Inc. (NASDAQ:MNOV) have received a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $8.3333.

A number of brokerages have recently weighed in on MNOV. Weiss Ratings downgraded MediciNova from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. D. Boral Capital restated a “buy” rating and set a $9.00 price objective on shares of MediciNova in a research note on Monday, May 4th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MNOV. StoneX Group Inc. acquired a new position in shares of MediciNova during the fourth quarter worth approximately $25,000. Goldman Sachs Group Inc. acquired a new stake in MediciNova in the 4th quarter valued at approximately $35,000. Citadel Advisors LLC bought a new stake in MediciNova during the 3rd quarter valued at $92,000. Bank of New York Mellon Corp bought a new stake in MediciNova during the 2nd quarter valued at $103,000. Finally, Jane Street Group LLC acquired a new position in MediciNova during the 4th quarter worth $214,000. 9.90% of the stock is owned by institutional investors and hedge funds.

MediciNova Trading Up 3.0%

MNOV stock opened at $1.38 on Thursday. The stock has a 50-day moving average price of $1.34 and a two-hundred day moving average price of $1.40. MediciNova has a 12-month low of $1.17 and a 12-month high of $1.96. The company has a market cap of $67.92 million, a PE ratio of -6.57 and a beta of 0.63.

MediciNova (NASDAQ:MNOV) last issued its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.01. The company had revenue of $0.46 million during the quarter, compared to the consensus estimate of $0.07 million. MediciNova had a negative return on equity of 26.51% and a negative net margin of 1,168.70%. Equities analysts forecast that MediciNova will post -0.28 EPS for the current fiscal year.

About MediciNova

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.