MediciNova (NASDAQ:MNOV) Coverage Initiated by Analysts at StockNews.com

Stock analysts at StockNews.com started coverage on shares of MediciNova (NASDAQ:MNOV) in a report released on Monday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Separately, D. Boral Capital reissued a “buy” rating and issued a $9.00 price objective on shares of MediciNova in a research note on Friday, March 14th.

MediciNova Stock Down 3.3 %

Shares of MNOV opened at $1.45 on Monday. The stock has a market cap of $71.12 million, a PE ratio of -6.30 and a beta of 0.73. MediciNova has a 12-month low of $1.12 and a 12-month high of $2.55. The business has a 50-day simple moving average of $1.73 and a two-hundred day simple moving average of $1.87.

MediciNova (NASDAQ:MNOV) last released its quarterly earnings data on Wednesday, February 19th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). On average, equities research analysts expect that MediciNova will post -0.24 EPS for the current year.

Hedge Funds Weigh In On MediciNova

Several institutional investors have recently added to or reduced their stakes in MNOV. Millennium Management LLC increased its stake in shares of MediciNova by 26.7% in the 4th quarter. Millennium Management LLC now owns 25,923 shares of the biopharmaceutical company’s stock valued at $54,000 after acquiring an additional 5,470 shares in the last quarter. Bank of America Corp DE increased its stake in MediciNova by 111.3% in the fourth quarter. Bank of America Corp DE now owns 161,312 shares of the biopharmaceutical company’s stock valued at $339,000 after purchasing an additional 84,963 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of MediciNova by 64.5% during the fourth quarter. Jane Street Group LLC now owns 23,259 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 9,121 shares during the period. Barclays PLC raised its holdings in shares of MediciNova by 15.5% during the fourth quarter. Barclays PLC now owns 95,600 shares of the biopharmaceutical company’s stock valued at $201,000 after purchasing an additional 12,800 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of MediciNova by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 514,914 shares of the biopharmaceutical company’s stock worth $1,082,000 after purchasing an additional 8,948 shares in the last quarter. 9.90% of the stock is owned by institutional investors and hedge funds.

MediciNova Company Profile

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.