MediciNova, Inc. (NASDAQ:MNOV) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• MediciNova has a “Moderate Buy” consensus rating from six analysts: three buys, one strong buy, one hold, and one sell. The average 12-month price target is $8.33.
• MNOV shares opened at $1.81, versus a 52-week range of $1.17 to $1.96. The company recently reported a quarterly loss of $0.05 per share, beating estimates by $0.01, while revenue of $0.46 million exceeded the $0.07 million consensus.
• Institutional investors and hedge funds own approximately 9.9% of MediciNova, with several firms—including Goldman Sachs, Citadel Advisors, and Jane Street—recently acquiring positions.

Shares of MediciNova, Inc. (NASDAQ:MNOV - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the six analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $8.3333.

Separately, Weiss Ratings upgraded shares of MediciNova from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, September 2nd.

MediciNova Price Performance

Shares of NASDAQ:MNOV opened at $1.81 on Monday. The company has a market capitalization of $89.09 million, a price-to-earnings ratio of -8.62 and a beta of 0.63. The business's 50-day moving average is $1.42 and its 200-day moving average is $1.40. MediciNova has a 1 year low of $1.17 and a 1 year high of $1.96.

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

Institutional Inflows and Outflows

Several 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 valued at about $25,000. Goldman Sachs Group Inc. acquired a new stake in shares of MediciNova in the 4th quarter worth about $35,000. Citadel Advisors LLC acquired a new stake in shares of MediciNova in the 3rd quarter worth about $92,000. Bank of New York Mellon Corp bought a new position in MediciNova in the 2nd quarter valued at about $103,000. Finally, Jane Street Group LLC bought a new position in MediciNova in the 4th quarter valued at about $214,000. Institutional investors and hedge funds own 9.90% of the company's stock.

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.

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