Brokerages Anticipate MediciNova, Inc. (MNOV) to Announce ($0.14) Earnings Per Share

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

Analysts have set a twelve-month consensus price objective of $19.67 for the company and are forecasting that the company will post ($0.14) earnings per share for the current quarter, according to Zacks. Zacks has also assigned MediciNova an industry rank of 54 out of 255 based on the ratings given to related companies.

Several research firms have recently issued reports on MNOV. BidaskClub raised shares of MediciNova from a “strong sell” rating to a “sell” rating in a research report on Tuesday, April 9th. B. Riley reissued a “buy” rating and issued a $22.00 price target on shares of MediciNova in a research report on Monday, March 25th.

Several institutional investors have recently modified their holdings of the stock. Alliancebernstein L.P. purchased a new stake in MediciNova in the third quarter valued at approximately $132,000. Metropolitan Life Insurance Co. NY raised its position in shares of MediciNova by 373.9% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 13,041 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 10,289 shares during the period. Jane Street Group LLC raised its position in shares of MediciNova by 72.7% during the 3rd quarter. Jane Street Group LLC now owns 20,900 shares of the biopharmaceutical company’s stock worth $261,000 after purchasing an additional 8,800 shares during the period. MetLife Investment Advisors LLC raised its position in shares of MediciNova by 55.2% during the 3rd quarter. MetLife Investment Advisors LLC now owns 28,927 shares of the biopharmaceutical company’s stock worth $361,000 after purchasing an additional 10,289 shares during the period. Finally, Bank of America Corp DE raised its position in shares of MediciNova by 231.3% during the 4th 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 period. Institutional investors own 21.74% of the company’s stock.

Shares of NASDAQ MNOV traded down $0.23 during mid-day trading on Friday, reaching $9.75. 1,844 shares of the company’s stock traded hands, compared to its average volume of 67,149. The stock has a market capitalization of $436.90 million, a P/E ratio of -30.19 and a beta of 1.12. MediciNova has a 1-year low of $6.68 and a 1-year high of $12.91.

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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