Global Hunter initiated coverage of MediciNova MNOV with a Speculative Buy rating and a price target of $4.
In a research report published today, Global Hunter states, "Our Speculative Buy rating is based on data to date, near-term milestones, attractive valuation
and uncertainties around the outcome of the Phase IIb MN-221 study. Our $4 fair value estimate is
based the average value from a pipeline valuation analysis, which only includes value from MN-221 in
the asthma indication, and discounted cash flow (DCF) analyses that examine free cash flow through
2018. Downside to our fair value estimate could occur with negative MN-221 efficacy and safety data
and the inability to partner the drug."
In today's trading, MediciNova added 0.38% to its value and is currently trading around $2.35.
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