MediciNova initiated with a Buy at Lucid Capital

Lucid Capital analyst Elemer Piros initiated coverage of MediciNova (MNOV) with a Buy rating and $11 price target The firm says the company is in a pivotal trial with an anti-inflammatory and neuroprotective agent for amyotrophic lateral sclerosis. The company’s lead drug ibudilast MN-166 reduces harmful neuroinflammation and supports neuronal resilience through multiple interconnected mechanisms, the analyst tells investors in a research note. Lucid sees blockbuster potential for ibudilast MN-166.