MediciNova (NASDAQ:MNOV) Receives Buy Rating from D. Boral Capital

D. Boral Capital reiterated their buy rating on shares of MediciNova (NASDAQ:MNOV) in a report released on Friday,Benzinga reports. They currently have a $9.00 price target on the biopharmaceutical company’s stock.

Separately, StockNews.com began coverage on shares of MediciNova in a research report on Wednesday. They issued a “hold” rating on the stock.

MediciNova Price Performance

Shares of NASDAQ:MNOV opened at $1.83 on Friday. The firm has a fifty day moving average price of $1.98 and a two-hundred day moving average price of $1.84. The company has a market cap of $89.76 million, a price-to-earnings ratio of -7.96 and a beta of 0.82. MediciNova has a one year low of $1.12 and a one year high of $2.55.

MediciNova (NASDAQ:MNOV) last posted its earnings results on Wednesday, February 19th. The biopharmaceutical company reported ($0.06) EPS for the quarter, hitting the consensus estimate of ($0.06). Equities research analysts expect that MediciNova will post -0.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MNOV. Jane Street Group LLC purchased a new stake in MediciNova during the third quarter valued at about $30,000. Millennium Management LLC raised its holdings in shares of MediciNova by 26.7% during the 4th quarter. Millennium Management LLC now owns 25,923 shares of the biopharmaceutical company’s stock valued at $54,000 after buying an additional 5,470 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in MediciNova in the 4th quarter worth approximately $78,000. SBI Securities Co. Ltd. purchased a new stake in MediciNova in the fourth quarter worth approximately $113,000. Finally, Barclays PLC boosted its stake in MediciNova by 15.5% in 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. 9.90% of the stock is currently owned by hedge funds and other 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.