4. MediciNova (MNOV) said on May 11 that it entered into a $15 million senior secured term loan with Oxford Finance to continue clinical development of MN-221, its treatment of acute exacerbations of asthma and chronic obstructive pulmonary disease (COPD). On May 17, MediciNova said its first-quarter loss widened slightly to 42 cents a share from 41 cents a year earlier.
Share Price: $4.84 (July 30 close)
Average Price Target: $13, based on three analyst price targets of $13 each dating to May 12. Based on the average target, analysts see upside potential of 183%.2010 Performance: -31.3% Analysts' View: All five research firms covering MediciNova, including Rodman & Renshaw and Ladenburg Thalmann, rate the stock as a "buy." In May, McNicoll Lewis & Vlak analyst Christopher James said he estimated peak sales of about $840 million for MN-221 in asthma alone. "Thus, COPD could represent a major source of upside," James wrote.