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

Brokerages have set a 12 month consensus price objective of $19.67 for the company and are predicting that the company will post ($0.11) earnings per share for the current quarter, according to Zacks. Zacks has also given MediciNova an industry rank of 98 out of 255 based on the ratings given to related companies.

MNOV has been the subject of a number of recent analyst reports. ValuEngine raised MediciNova from a “hold” rating to a “buy” rating in a research report on Saturday, June 2nd. BidaskClub raised MediciNova from a “hold” rating to a “buy” rating in a research report on Thursday, September 6th.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of MediciNova by 10.3% in the second quarter. BlackRock Inc. now owns 2,375,416 shares of the biopharmaceutical company’s stock worth $18,909,000 after acquiring an additional 222,277 shares in the last quarter. Sphera Funds Management LTD. acquired a new position in shares of MediciNova in the first quarter worth about $6,447,000. Northern Trust Corp lifted its stake 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 acquiring an additional 38,551 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of MediciNova by 20.3% in the second quarter. Bank of New York Mellon Corp now owns 151,609 shares of the biopharmaceutical company’s stock worth $1,207,000 after acquiring an additional 25,554 shares in the last quarter. Finally, Wexford Capital LP acquired a new position in shares of MediciNova in the first quarter worth about $1,278,000. 21.53% of the stock is owned by institutional investors.

Shares of NASDAQ MNOV traded down $0.18 during trading on Friday, reaching $12.02. The company had a trading volume of 5,901 shares, compared to its average volume of 67,210. The stock has a market cap of $462.76 million, a price-to-earnings ratio of -37.63 and a beta of 0.32. MediciNova has a twelve month low of $5.66 and a twelve month high of $14.50.

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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