MediciNova (NASDAQ:MNOV) Receives “Buy” Rating from D. Boral Capital

MediciNova (NASDAQ:MNOV)‘s stock had its “buy” rating reaffirmed by investment analysts at D. Boral Capital in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $9.00 price target on the biopharmaceutical company’s stock.

Several other brokerages have also recently weighed in on MNOV. Weiss Ratings reiterated a “sell (d-)” rating on shares of MediciNova in a research report on Monday. Zacks Research upgraded shares of MediciNova to a “hold” rating in a research note on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $7.00.

MediciNova Price Performance

MediciNova stock opened at $1.47 on Thursday. The firm has a market capitalization of $72.25 million, a P/E ratio of -5.88 and a beta of 0.48. MediciNova has a one year low of $1.13 and a one year high of $2.24. The business has a fifty day moving average price of $1.40 and a 200-day moving average price of $1.34.

MediciNova (NASDAQ:MNOV) last released its quarterly earnings data on Wednesday, November 12th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $0.12 million for the quarter. Sell-side analysts expect 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 purchased a new position in MediciNova, Inc. (NASDAQ:MNOV) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 72,897 shares of the biopharmaceutical company’s stock, valued at approximately $92,000. Citadel Advisors LLC owned about 0.15% of MediciNova at the end of the most recent reporting period. Hedge funds and other institutional investors own 9.90% of the company’s stock.

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.