MediciNova (NASDAQ:MNOV) Earns Buy Rating from D. Boral Capital

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

MNOV has been the subject of several other reports. Weiss Ratings reiterated 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 report on Monday, January 5th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $7.00.

MediciNova Trading Down 2.2%

MNOV stock opened at $1.75 on Friday. The company’s 50 day moving average is $1.49 and its 200 day moving average is $1.37. The stock has a market cap of $86.01 million, a price-to-earnings ratio of -7.00 and a beta of 0.52. MediciNova has a 1-year low of $1.13 and a 1-year high of $2.06.

MediciNova (NASDAQ:MNOV) last released its quarterly earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $0.12 million during the quarter. As a group, sell-side analysts forecast that MediciNova will post -0.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in MediciNova stock. Citadel Advisors LLC bought a new stake in MediciNova, Inc. (NASDAQ:MNOV) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 72,897 shares of the biopharmaceutical company’s stock, valued at approximately $92,000. Citadel Advisors LLC owned 0.15% of MediciNova as of its most recent SEC filing. 9.90% of the stock is currently owned by institutional investors and hedge funds.

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.