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

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

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

MediciNova Stock Performance

NASDAQ MNOV opened at $1.68 on Thursday. MediciNova has a one year low of $1.12 and a one year high of $2.55. The company’s 50 day moving average price is $1.95 and its 200 day moving average price is $1.86. The firm has a market capitalization of $82.40 million, a price-to-earnings ratio of -7.30 and a beta of 0.82.

MediciNova (NASDAQ:MNOV) last posted its quarterly earnings data on Wednesday, February 19th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). Sell-side analysts forecast that MediciNova will post -0.24 EPS for the current fiscal year.

Institutional Trading of MediciNova

Hedge funds have recently made changes to their positions in the company. Jane Street Group LLC purchased a new stake in shares of MediciNova during the third quarter valued at approximately $30,000. Millennium Management LLC grew its position in shares of MediciNova by 26.7% during 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 in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of MediciNova during the fourth quarter worth approximately $78,000. SBI Securities Co. Ltd. acquired a new stake in shares of MediciNova during the fourth quarter worth approximately $113,000. Finally, Barclays PLC grew its position in shares of MediciNova by 15.5% during the fourth quarter. Barclays PLC now owns 95,600 shares of the biopharmaceutical company’s stock worth $201,000 after buying an additional 12,800 shares in the last quarter. Hedge funds and other 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.