B.Riley FBR analyst Mayank Mamtani reiterated a Buy rating on Medicinova (MNOV) today and set a price target of $11.00. The company’s shares closed last Friday at $6.22.
According to TipRanks.com, Mamtani is a 5-star analyst with an average return of 13.1% and a 46.3% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, Spectrum Pharmaceuticals, and Madrigal Pharmaceuticals.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Medicinova with a $11.00 average price target.
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Based on Medicinova’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $4.45 million. In comparison, last year the company had a GAAP net loss of $3.88 million.
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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.
