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 report released on Thursday morning,Benzinga reports. They currently have a $9.00 target price on the biopharmaceutical company’s stock.

Several other analysts have also recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of MediciNova in a report on Monday, December 15th. Zacks Research upgraded shares of MediciNova to a “hold” rating in a research report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, MediciNova has an average rating of “Moderate Buy” and an average target price of $7.00.

MediciNova Stock Performance

Shares of MNOV stock opened at $1.43 on Thursday. MediciNova has a 52 week low of $1.13 and a 52 week high of $2.22. The stock has a market capitalization of $70.28 million, a PE ratio of -5.72 and a beta of 0.48. The stock’s fifty day moving average is $1.41 and its 200-day moving average is $1.34.

MediciNova (NASDAQ:MNOV) last posted its quarterly earnings data on Wednesday, November 12th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.02. The company had revenue of $0.12 million during the quarter. As a group, analysts forecast that MediciNova will post -0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MediciNova

A hedge fund recently bought a new stake in MediciNova stock. Citadel Advisors LLC bought a new stake in MediciNova, Inc. (NASDAQ:MNOV) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 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. 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.