Brokerages Set $19.67 Target Price for MediciNova, Inc. (MNOV)

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MediciNova, Inc. (NASDAQ:MNOV) has been given an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.

Brokers have set a twelve-month consensus target price of $19.67 for the company and are expecting 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 88 out of 255 based on the ratings given to related companies.

Separately, BidaskClub cut shares of MediciNova from a “hold” rating to a “sell” rating in a research report on Tuesday, February 5th.

A number of hedge funds have recently bought and sold shares of MNOV. BlackRock Inc. grew its holdings in shares of MediciNova by 20.9% in the fourth 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. grew its holdings in shares of MediciNova by 52.6% in the fourth 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 grew its holdings in shares of MediciNova by 9.3% in the second 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. grew its holdings in shares of MediciNova by 35.8% in the third 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 grew its holdings in shares of MediciNova by 231.3% in the fourth 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. Institutional investors and hedge funds own 21.74% of the company’s stock.

Shares of NASDAQ MNOV opened at $8.70 on Tuesday. The stock has a market cap of $364.36 million, a P/E ratio of -27.19 and a beta of 1.14. MediciNova has a 1 year low of $6.68 and a 1 year high of $14.01.

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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