MediciNova, Inc. (NASDAQ:MNOV) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.
Analysts have set a 1-year consensus target price of $19.67 for the company and are predicting that the company will post ($0.08) earnings per share for the current quarter, according to Zacks. Zacks has also assigned MediciNova an industry rank of 77 out of 255 based on the ratings given to related companies.
Separately, BidaskClub downgraded MediciNova from a “hold” rating to a “sell” rating in a report on Tuesday, February 5th.
Shares of NASDAQ MNOV opened at $8.49 on Tuesday. The company has a market capitalization of $364.36 million, a P/E ratio of -26.53 and a beta of 1.14. MediciNova has a 12-month low of $6.68 and a 12-month high of $14.05.
Several hedge funds and other institutional investors have recently made changes to their positions in MNOV. BlackRock Inc. lifted its holdings in shares of MediciNova by 20.9% in the 4th quarter. BlackRock Inc. now owns 2,913,245 shares of the biopharmaceutical company’s stock worth $23,801,000 after purchasing an additional 504,452 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in shares of MediciNova by 52.6% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 266,343 shares of the biopharmaceutical company’s stock worth $2,180,000 after purchasing an additional 91,812 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of MediciNova by 9.3% in the 2nd quarter. Northern Trust Corp now owns 455,130 shares of the biopharmaceutical company’s stock worth $3,623,000 after purchasing an additional 38,551 shares during the last quarter. Bridgeway Capital Management Inc. lifted its holdings in shares of MediciNova by 35.8% in the 3rd quarter. Bridgeway Capital Management Inc. now owns 132,710 shares of the biopharmaceutical company’s stock worth $1,658,000 after purchasing an additional 35,000 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of MediciNova by 231.3% in the 4th quarter. Bank of America Corp DE now owns 35,328 shares of the biopharmaceutical company’s stock worth $288,000 after purchasing an additional 24,664 shares during the last quarter. 21.74% of the stock is currently owned by institutional investors and hedge funds.
MediciNova Company Profile
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. The company is developing MN-166 (ibudilast), an oral anti-inflammatory and neuroprotective agent for treating neurological 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.
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