StockNews.com Begins Coverage on MediciNova (NASDAQ:MNOV)

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

Separately, D. Boral Capital reiterated a “buy” rating and set a $9.00 price target on shares of MediciNova in a report on Friday, March 14th.

MediciNova Price Performance

Shares of MediciNova stock opened at $1.49 on Friday. MediciNova has a 1 year low of $1.12 and a 1 year high of $2.55. The company has a 50-day moving average of $1.76 and a 200 day moving average of $1.89. The firm has a market cap of $73.08 million, a price-to-earnings ratio of -6.48 and a beta of 0.73.

MediciNova (NASDAQ:MNOV) last announced its earnings results on Wednesday, February 19th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). On average, equities analysts anticipate that MediciNova will post -0.24 EPS for the current year.

Institutional Trading of MediciNova

Several large investors have recently modified their holdings of the company. Jane Street Group LLC purchased a new position in shares of MediciNova during the 3rd quarter worth $30,000. Millennium Management LLC raised its stake in shares of MediciNova by 26.7% in the fourth quarter. Millennium Management LLC now owns 25,923 shares of the biopharmaceutical company’s stock worth $54,000 after buying an additional 5,470 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of MediciNova during the 4th quarter valued at about $78,000. SBI Securities Co. Ltd. bought a new position in shares of MediciNova during the 4th quarter valued at approximately $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 worth $201,000 after acquiring an additional 12,800 shares in the last quarter. Institutional investors own 9.90% of the company’s stock.

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.