MediciNova (NASDAQ:MNOV) Now Covered by StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of MediciNova (NASDAQ:MNOV) in a note issued to investors on Thursday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

Separately, D. Boral Capital restated a “buy” rating and set a $9.00 target price on shares of MediciNova in a research note on Friday, February 21st.

MediciNova Stock Performance

NASDAQ MNOV opened at $1.66 on Thursday. The company has a market capitalization of $81.42 million, a price-to-earnings ratio of -7.22 and a beta of 0.82. The stock has a 50-day moving average of $1.96 and a 200 day moving average of $1.86. MediciNova has a one year low of $1.12 and a one year high of $2.55.

MediciNova (NASDAQ:MNOV) last released its quarterly earnings results 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 analysts predict that MediciNova will post -0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MediciNova

Institutional investors have recently bought and sold shares of the business. Jane Street Group LLC bought a new position in shares of MediciNova in the third quarter worth about $30,000. Geode Capital Management LLC boosted its stake in MediciNova by 10.3% in the 3rd quarter. Geode Capital Management LLC now owns 505,966 shares of the biopharmaceutical company’s stock worth $1,063,000 after purchasing an additional 47,201 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of MediciNova during the fourth quarter valued at approximately $78,000. SBI Securities Co. Ltd. purchased a new position in MediciNova during the fourth quarter valued at $113,000. Finally, Barclays PLC increased its holdings in MediciNova by 15.5% in the 4th quarter. Barclays PLC now owns 95,600 shares of the biopharmaceutical company’s stock valued at $201,000 after acquiring an additional 12,800 shares during the last quarter. Hedge funds and other institutional investors own 9.90% of the company’s stock.

About MediciNova

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.