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

StockNews.com started coverage on shares of MediciNova (NASDAQ:MNOV) in a report issued on Saturday. The firm issued a hold rating on the biopharmaceutical company’s stock.

Separately, D. Boral Capital reissued a “buy” rating and issued a $9.00 price target on shares of MediciNova in a research report on Wednesday, April 9th.

MediciNova Stock Down 1.4%

MediciNova stock opened at $1.45 on Friday. The stock has a market cap of $71.12 million, a P/E ratio of -6.30 and a beta of 0.46. MediciNova has a 12 month low of $1.12 and a 12 month high of $2.55. The company’s fifty day simple moving average is $1.45 and its 200-day simple moving average is $1.77.

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 analysts’ consensus estimates of ($0.06). On average, equities research analysts expect that MediciNova will post -0.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC boosted its stake in MediciNova by 26.7% in the fourth 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 during the last quarter. Geode Capital Management LLC boosted its position in shares of MediciNova by 1.8% during the fourth 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. Jane Street Group LLC lifted its position in MediciNova by 64.5% in the 4th quarter. Jane Street Group LLC now owns 23,259 shares of the biopharmaceutical company’s stock valued at $49,000 after acquiring an additional 9,121 shares in the last quarter. Barclays PLC lifted its position 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 in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in MediciNova in the 4th quarter valued at $78,000. Institutional investors and hedge funds 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.