B. Riley Upgrades MediciNova (NASDAQ:MNOV) to "Strong-Buy"

B. Riley upgraded shares of MediciNova (NASDAQ:MNOV - Free Report) from a buy rating to a strong-buy rating in a report issued on Monday, Marketbeat reports. B. Riley currently has $5.00 price objective on the biopharmaceutical company's stock, down from their prior price objective of $6.00. B. Riley also issued estimates for MediciNova's Q2 2025 earnings at ($0.07) EPS, Q3 2025 earnings at ($0.08) EPS, Q4 2025 earnings at ($0.10) EPS, FY2025 earnings at ($0.30) EPS and FY2026 earnings at ($0.33) EPS.

Several other analysts have also issued reports on the company. D. Boral Capital reissued a "buy" rating and set a $9.00 target price on shares of MediciNova in a report on Wednesday, April 9th. Wall Street Zen assumed coverage on shares of MediciNova in a research note on Sunday, May 18th. They set a "hold" rating on the stock.

MediciNova Trading Up 0.8%

Shares of NASDAQ:MNOV traded up $0.01 on Monday, reaching $1.27. 3,579 shares of the company's stock were exchanged, compared to its average volume of 37,565. MediciNova has a twelve month low of $1.12 and a twelve month high of $2.55. The company has a fifty day moving average of $1.43 and a 200-day moving average of $1.69. The company has a market capitalization of $62.29 million, a price-to-earnings ratio of -5.52 and a beta of 0.42.

MediciNova (NASDAQ:MNOV - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.08. As a group, equities research analysts forecast that MediciNova will post -0.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its holdings in shares of MediciNova by 111.3% in the 4th quarter. Bank of America Corp DE now owns 161,312 shares of the biopharmaceutical company's stock valued at $339,000 after purchasing an additional 84,963 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of MediciNova during the 4th quarter worth $113,000. Y Intercept Hong Kong Ltd bought a new stake in shares of MediciNova during the 4th quarter worth $78,000. Barclays PLC boosted its stake in MediciNova by 15.5% in the fourth quarter. Barclays PLC now owns 95,600 shares of the biopharmaceutical company's stock valued at $201,000 after buying an additional 12,800 shares in the last quarter. Finally, Jane Street Group LLC grew its position in MediciNova by 64.5% in the fourth quarter. Jane Street Group LLC now owns 23,259 shares of the biopharmaceutical company's stock valued at $49,000 after acquiring an additional 9,121 shares during the last quarter. 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.