Medicinova: Buy Rating Reiterated as Pipeline Advances and Cash Runway Extends, $6 Price Target Maintained

Medicinova, the Healthcare sector company, was revisited by a Wall Street analyst on May 18. Analyst Jason McCarthy from Maxim Group maintained a Buy rating on the stock and has a $6.00 price target.

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Jason McCarthy has given his Buy rating due to a combination of factors including Medicinova’s solid cash position, advancing clinical pipeline, and upcoming catalysts. The company reported a modest quarterly loss while maintaining over $27M in cash, which he believes should fund operations into the second half of 2027, and the fully enrolled Phase 2b/3 ALS trial with topline data expected by year-end 2026 provides a clear value inflection point.

He also highlights the NIH-funded late-stage ALS study and new peer-reviewed preclinical data showing MN-166’s activity in brain metastases as important de-risking and expansion drivers. These data, along with planned collaboration with CNIO on a biomarker-driven brain metastasis study and an approaching mid-2026 readout for MN-001 in metabolic and liver disease, support a broader pipeline opportunity, justifying a reiterated Buy rating and an unchanged $6 price target.

MNOV’s price has also changed slightly for the past six months – from $1.440 to $1.390, which is a -3.47% drop .