MediciNova, Inc. (MNOV) Given Consensus Rating of “Strong Buy” by Analysts

MediciNova, Inc. (NASDAQ:MNOV) has been given an average broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.

Brokers have set a 1-year consensus target price of $19.67 for the company and are forecasting that the company will post ($0.11) EPS for the current quarter, according to Zacks. Zacks has also given MediciNova an industry rank of 90 out of 255 based on the ratings given to related companies.

Separately, BidaskClub cut shares of MediciNova from a “buy” rating to a “hold” rating in a research report on Saturday, October 13th.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Guggenheim Capital LLC purchased a new stake in shares of MediciNova in the first quarter valued at about $116,000. Commonwealth Equity Services LLC purchased a new stake in shares of MediciNova in the second quarter valued at about $119,000. Element Capital Management LLC purchased a new stake in shares of MediciNova in the first quarter valued at about $163,000. MetLife Investment Advisors LLC purchased a new stake in shares of MediciNova in the first quarter valued at about $190,000. Finally, PNC Financial Services Group Inc. purchased a new stake in shares of MediciNova in the first quarter valued at about $300,000. Institutional investors and hedge funds own 21.52% of the company’s stock.

Shares of NASDAQ MNOV opened at $10.78 on Tuesday. MediciNova has a 52 week low of $5.81 and a 52 week high of $14.50.

MediciNova (NASDAQ:MNOV) last issued its earnings results on Monday, July 23rd. The biopharmaceutical company reported ($0.08) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.04. As a group, sell-side analysts forecast that MediciNova will post -0.44 EPS for the current fiscal year.

About MediciNova

MediciNova, Inc, a biopharmaceutical company, focuses on acquiring and developing novel and small molecule therapeutics for the treatment of serious diseases with unmet medical needs in the United States. The company's product candidate includes MN-166 (ibudilast), an oral anti-inflammatory and neuroprotective agent for the treatment of neurological disorders consisting of primary and secondary progressive multiple sclerosis; amyotrophic lateral sclerosis; and substance dependence and addiction.

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