B.Riley FBR Thinks Medicinova’s Stock is Going to Recover

B.Riley FBR analyst Mayank Mamtani reiterated a Buy rating on Medicinova (MNOV) yesterday and set a price target of $11.00. The company’s shares closed last Wednesday at $4.41, close to its 52-week low of $2.79.

According to TipRanks.com, Mamtani is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -6.4% and a 28.0% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals, Arrowhead Pharmaceuticals, and Spectrum Pharmaceuticals.

Medicinova has an analyst consensus of Moderate Buy, with a price target consensus of $11.00.

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Based on Medicinova’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $1.98 million. In comparison, last year the company had a GAAP net loss of $207.9K.

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MediciNova, Inc. is a biopharmaceutical company, which engages in the acquisition and development of small molecule therapeutics for the treatment of serious diseases for the treatment of diseases with unmet medical need. Its development pipeline consists of clinical-stage compounds for the treatment of acute exacerbations of asthma and COPD, progressive multiple sclerosis, methamphetamine addiction, neuropathic pain, asthma, interstitial cystitis, and solid tumor cancers. The company was founded by Yuichi Iwaki on September 26, 2000 and is headquartered in La Jolla, CA.

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