Analysts Anticipate MediciNova, Inc. (MNOV) to Post ($0.11) Earnings Per Share

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Shares of MediciNova, Inc. (NASDAQ:MNOV) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that cover the company, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy recommendation.

Brokerages have set a 12-month 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 assigned MediciNova an industry rank of 90 out of 255 based on the ratings given to its competitors.

Separately, BidaskClub upgraded shares of MediciNova from a “hold” rating to a “buy” rating in a report on Wednesday, October 3rd.

MediciNova stock opened at $10.78 on Tuesday. MediciNova has a twelve month low of $5.81 and a twelve month high of $14.50.

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

Large investors have recently modified their holdings of the stock. Guggenheim Capital LLC bought a new position in MediciNova during the 1st quarter valued at about $116,000. Commonwealth Equity Services LLC bought a new position in MediciNova during the 2nd quarter valued at about $119,000. Element Capital Management LLC bought a new position in MediciNova during the 1st quarter valued at about $163,000. MetLife Investment Advisors LLC bought a new position in MediciNova in the 1st quarter worth about $190,000. Finally, PNC Financial Services Group Inc. bought a new position in MediciNova in the 1st quarter worth about $300,000. Institutional investors own 21.52% of the company’s stock.

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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