MediciNova, Inc. (NASDAQ:MNOV – Get Free Report) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.39 and traded as high as $1.52. MediciNova shares last traded at $1.42, with a volume of 25,441 shares.
Analysts Set New Price Targets
A number of research firms have issued reports on MNOV. D. Boral Capital reissued a “buy” rating and set a $9.00 price target on shares of MediciNova in a research report on Monday, May 4th. Weiss Ratings lowered MediciNova from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.33.
Check Out Our Latest Research Report on MNOV
MediciNova Stock Performance
MediciNova (NASDAQ:MNOV – Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.01. MediciNova had a negative return on equity of 26.51% and a negative net margin of 1,168.70%.The company had revenue of $0.46 million for the quarter, compared to analyst estimates of $0.07 million. As a group, analysts forecast that MediciNova, Inc. will post -0.28 earnings per share for the current fiscal year.
Hedge Funds Weigh In On MediciNova
Several large investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC acquired a new stake in shares of MediciNova during the third quarter worth $92,000. Goldman Sachs Group Inc. acquired a new stake in MediciNova during the fourth quarter worth about $35,000. StoneX Group Inc. bought a new position in MediciNova in the fourth quarter worth about $25,000. Jane Street Group LLC acquired a new position in MediciNova in the fourth quarter valued at approximately $214,000. Finally, State Street Corp grew its holdings in shares of MediciNova by 10.9% during the fourth quarter. State Street Corp now owns 193,698 shares of the biopharmaceutical company’s stock valued at $254,000 after purchasing an additional 19,100 shares during the last quarter. 9.90% of the stock is currently owned by institutional investors.
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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