MediciNova, Inc. (MNOV) Given $19.67 Consensus Price Target by Analysts

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

Brokerages have set a twelve-month consensus target price of $19.67 for the company and are forecasting that the company will post ($0.14) EPS for the current quarter, according to Zacks. Zacks has also given MediciNova an industry rank of 74 out of 255 based on the ratings given to its competitors.

MNOV has been the topic of several research reports. BidaskClub cut MediciNova from a “hold” rating to a “sell” rating in a research report on Tuesday, February 5th. B. Riley reaffirmed a “buy” rating and set a $22.00 price objective on shares of MediciNova in a research report on Monday, March 25th.

MediciNova stock opened at $8.28 on Wednesday. MediciNova has a fifty-two week low of $6.68 and a fifty-two week high of $14.01.

A number of institutional investors have recently bought and sold shares of MNOV. Alliancebernstein L.P. bought a new stake in MediciNova during the 3rd quarter valued at approximately $132,000. BlackRock Inc. boosted its position in MediciNova by 1.4% during the 3rd quarter. BlackRock Inc. now owns 2,408,793 shares of the biopharmaceutical company’s stock valued at $30,084,000 after acquiring an additional 33,377 shares in the last quarter. Bridgeway Capital Management Inc. boosted its position in MediciNova by 35.8% during the 3rd quarter. Bridgeway Capital Management Inc. now owns 132,710 shares of the biopharmaceutical company’s stock valued at $1,658,000 after acquiring an additional 35,000 shares in the last quarter. Jane Street Group LLC boosted its position in MediciNova by 72.7% during the 3rd quarter. Jane Street Group LLC now owns 20,900 shares of the biopharmaceutical company’s stock valued at $261,000 after acquiring an additional 8,800 shares in the last quarter. Finally, MetLife Investment Advisors LLC boosted its position in MediciNova by 55.2% during the 3rd quarter. MetLife Investment Advisors LLC now owns 28,927 shares of the biopharmaceutical company’s stock valued at $361,000 after acquiring an additional 10,289 shares in the last quarter. 21.74% of the stock is currently owned by institutional investors and hedge funds.

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. 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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