MediciNova (NASDAQ:MNOV) Research Coverage Started at StockNews.com

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

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

MediciNova Stock Down 2.1%

Shares of NASDAQ:MNOV opened at $1.37 on Friday. The company’s fifty day moving average is $1.44 and its two-hundred day moving average is $1.76. MediciNova has a 12-month low of $1.12 and a 12-month high of $2.55. The company has a market cap of $67.19 million, a P/E ratio of -5.96 and a beta of 0.46.

MediciNova (NASDAQ:MNOV) last released its quarterly earnings data on Tuesday, May 13th. The biopharmaceutical company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.08. Equities research analysts anticipate that MediciNova will post -0.24 earnings per share for the current year.

Institutional Investors Weigh In On MediciNova

A number of institutional investors have recently modified their holdings of the company. Bank of America Corp DE raised its holdings in MediciNova by 111.3% during the fourth quarter. Bank of America Corp DE now owns 161,312 shares of the biopharmaceutical company’s stock worth $339,000 after buying an additional 84,963 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in MediciNova during the fourth quarter worth $113,000. Y Intercept Hong Kong Ltd acquired a new position in MediciNova during the fourth quarter worth $78,000. Barclays PLC raised its holdings in 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 during the last quarter. Finally, Jane Street Group LLC raised its holdings in MediciNova by 64.5% during the fourth quarter. Jane Street Group LLC now owns 23,259 shares of the biopharmaceutical company’s stock worth $49,000 after buying an additional 9,121 shares during the last quarter. 9.90% of the stock is owned by institutional investors.

About MediciNova

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.