MediciNova (NASDAQ:MNOV) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of MediciNova (NASDAQ:MNOVGet Free Report) in a note issued to investors on Wednesday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

MediciNova Stock Down 2.6 %

Shares of MNOV opened at $1.48 on Wednesday. The company has a 50 day moving average of $1.41 and a two-hundred day moving average of $1.52. The company has a market cap of $72.59 million, a price-to-earnings ratio of -8.71 and a beta of 0.70. MediciNova has a twelve month low of $1.26 and a twelve month high of $2.66.

MediciNova (NASDAQ:MNOVGet Free Report) last issued its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.04. On average, sell-side analysts expect that MediciNova will post -0.23 EPS for the current year.

Hedge Funds Weigh In On MediciNova

An institutional investor recently bought a new position in MediciNova stock. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of MediciNova, Inc. (NASDAQ:MNOVFree Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 19,000 shares of the biopharmaceutical company’s stock, valued at approximately $28,000. Institutional investors own 9.90% of the company’s stock.

MediciNova Company Profile

(Get Free Report)

MediciNova, Inc, a biopharmaceutical company, focuses on developing novel and small molecule therapeutics for the treatment of serious diseases with unmet medical needs in the United States. It is developing MN-166 (ibudilast), an oral anti-inflammatory and neuroprotective agent for treating neurological and other disorders, such as primary and secondary progressive multiple sclerosis, amyotrophic lateral sclerosis, chemotherapy-induced peripheral neuropathy, degenerative cervical myelopathy, glioblastoma, and substance dependence and addiction, as well as prevention of acute respiratory distress syndrome, and long COVID.

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