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

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

Separately, D. Boral Capital initiated coverage on MediciNova in a research report on Monday, December 2nd. They issued a “buy” rating and a $9.00 price objective for the company.

MediciNova Stock Performance

Shares of MNOV opened at $1.83 on Friday. The business’s fifty day moving average price is $2.06 and its two-hundred day moving average price is $1.75. The firm has a market capitalization of $89.76 million, a price-to-earnings ratio of -8.71 and a beta of 0.84. MediciNova has a 52 week low of $1.12 and a 52 week high of $2.55.

Hedge Funds Weigh In On MediciNova

An institutional investor recently bought a new position in MediciNova stock. Jane Street Group LLC purchased a new stake in MediciNova, Inc. (NASDAQ:MNOV) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,138 shares of the biopharmaceutical company’s stock, valued at approximately $30,000. 9.90% of the stock is owned by institutional investors.

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.