Thursday, October 22, 2015 8:06:00 AM
Kind regards,
Minding
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From http://www.financialmagazin.com/what-will-happen-to-medicinova-inc-next-the-stock-just-reaches-52-week-low/
What Will Happen to MediciNova, Inc. Next? The Stock Just Reaches 52-Week Low
The stock of MediciNova, Inc. (MNOV) hit a new 52-week low and has $2.05 target or 28.00% below today’s $2.85 share price. The 8 months bearish chart indicates high risk for the $84.89 million company. The 1-year low was reported on Oct, 21 by Barchart.com. If the $2.05 price target is reached, the company will be worth $23.77M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock is up 2.15% or $0.06 after the news, hitting $2.85 per share. About 107,871 shares traded hands or 41.33% up from the average. MediciNova, Inc. (NASDAQ:MNOV) has declined 18.42% since March 18, 2015 and is downtrending. It has underperformed by 15.15% the S&P500.
Analysts await MediciNova, Inc. (NASDAQ:MNOV) to reports earnings on October, 29. After $-0.09 actual EPS reported by MediciNova, Inc. for the previous quarter, Wall Street now forecasts 11.11% negative EPS growth.
According to Zacks, “MEDICINOVA, INC. is a publicly-traded biopharmaceutical company focused on acquiring and developing novel, small-molecule therapeutics for the treatment of diseases with unmet medical need with a specific focus on the U.S. market. Through strategic alliances primarily with Japanese pharmaceutical companies, MediciNova holds rights to a diversified portfolio of clinical and preclinical product candidates, each of which MediciNova believes has a well-characterized and differentiated therapeutic profile, attractive commercial potential and patent assets having claims of commercially adequate scope. MediciNova’s pipeline includes six clinical-stage compounds for the treatment of status asthmaticus, multiple sclerosis, asthma, interstitial cystitis, solid tumor cancers, Generalized Anxiety Disorder, preterm labor and urinary incontinence and two preclinical-stage compounds for the treatment of thrombotic disorders. MediciNova will seek to monetize its other product candidates at key value inflection points.”
The institutional sentiment increased to 1 in Q2 2015. Its up 0.55, from 0.45 in 2015Q1. The ratio increased, as 5 funds sold all MediciNova, Inc. shares owned while 4 reduced positions. 2 funds bought stakes while 7 increased positions. They now own 2.52 million shares or 0.18% more from 2.51 million shares in 2015Q1.
Essex Woodlands Health Ventures Inc. holds 0.83% of its portfolio in MediciNova, Inc. for 1.17 million shares. Bridgeway Capital Management Inc owns 66,592 shares or 0.01% of their US portfolio. Moreover, Bank Of America Corp De has 0% invested in the company for 3,020 shares. The United Kingdom-based Barclays Plc has invested 0% in the stock. Blackrock Fund Advisors, a California-based fund reported 60,997 shares.
Recent MNOV News
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/09/2024 08:15:29 PM
- MediciNova Receives Issue Notification for New Patent Covering Extended-Release Formulations of MN-166 (ibudilast) • GlobeNewswire Inc. • 05/07/2024 10:00:00 AM
- MediciNova Announces Abstract Regarding Results of a Clinical Trial of MN-166 (ibudilast) in Glioblastoma Accepted for Presentation at the 2024 American Society of Clinical Oncology Annual Meeting (2024 ASCO) • GlobeNewswire Inc. • 04/02/2024 11:00:00 PM
- MediciNova Receives a Notice of Allowance for a New Patent Covering MN-166 (ibudilast) for the Treatment of Macular Injury in Japan • GlobeNewswire Inc. • 03/26/2024 11:00:00 PM
- MediciNova Announces Two Abstracts regarding MN-001 (tipelukast) and MN-002 Accepted for Presentation at the 92nd EAS 2024 Congress, the Annual Meeting of the European Atherosclerosis Society • GlobeNewswire Inc. • 03/20/2024 11:00:00 PM
- MediciNova Announces New Data and Results of MN-166 (ibudilast) in Chlorine Gas-induced Acute Lung Injury Presented at the 63rd Annual Meeting of the Society of Toxicology • GlobeNewswire Inc. • 03/12/2024 10:30:00 AM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 02/15/2024 09:25:31 PM
- Form S-8 POS - Securities to be offered to employees in employee benefit plans, post-effective amendments • Edgar (US Regulatory) • 01/19/2024 09:27:28 PM
- Form S-8 POS - Securities to be offered to employees in employee benefit plans, post-effective amendments • Edgar (US Regulatory) • 01/19/2024 09:25:25 PM
- Form S-8 POS - Securities to be offered to employees in employee benefit plans, post-effective amendments • Edgar (US Regulatory) • 01/19/2024 09:23:50 PM
- Form S-8 POS - Securities to be offered to employees in employee benefit plans, post-effective amendments • Edgar (US Regulatory) • 01/19/2024 09:21:57 PM
- MediciNova Receives a Notice of Grant for a New Patent Covering MN-166 (ibudilast) for the Treatment of Macular Injury in China • GlobeNewswire Inc. • 01/17/2024 11:00:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/11/2024 09:52:35 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/11/2024 09:52:04 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/11/2024 09:51:33 PM
- MediciNova Announces Abstract Regarding MN-166 (ibudilast) in Chlorine Gas-induced Lung Injury Accepted for Presentation at the 63rd Annual Meeting of the Society of Toxicology • GlobeNewswire Inc. • 12/21/2023 11:00:00 PM
- MediciNova Receives a Notice of Decision to Grant for a New Patent Covering MN-166 (ibudilast) for the Treatment of Progressive MS in Europe • GlobeNewswire Inc. • 12/06/2023 11:00:00 PM
- Stocks Set to Open Higher as Investors Await FOMC Minutes and Nvidia Earnings • IH Market News • 11/20/2023 12:42:19 PM
- MediciNova Announces New Data and Results of a Phase 2 Clinical Trial of MN-166 (ibudilast) in Glioblastoma Presented at the 28th Annual Meeting of the Society for Neuro-Oncology • GlobeNewswire Inc. • 11/19/2023 11:00:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/09/2023 09:15:31 PM
- MediciNova’s Collaborator Initiates Clinical Development of a Gene Therapy Product for the Treatment of Phenylketonuria • GlobeNewswire Inc. • 10/27/2023 05:00:00 AM
- MediciNova Receives a Notice of Allowance for a New Patent Covering the Combination of MN-166 (ibudilast) and Riluzole for the Treatment of Amyotrophic Lateral Sclerosis (ALS) in Canada • GlobeNewswire Inc. • 10/10/2023 11:00:00 PM
- MediciNova Receives Gene Therapy Milestone Payment • GlobeNewswire Inc. • 10/04/2023 11:00:00 PM
- MediciNova Announces Results of Studies under BARDA Contract to Develop MN 166 (ibudilast) as a Medical Countermeasure Against Chlorine Gas-induced Lung Injury • GlobeNewswire Inc. • 09/27/2023 11:00:00 PM
- MediciNova Announces Abstract Regarding MN-166 (ibudilast) in Glioblastoma Accepted for Presentation at the Annual Meeting of the Society for Neuro-Oncology • GlobeNewswire Inc. • 08/17/2023 11:00:00 PM
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