MediciNova (NASDAQ:MNOV) Receives New Coverage from Analysts at StockNews.com

Equities researchers at StockNews.com started coverage on shares of MediciNova (NASDAQ:MNOV) in a report issued on Monday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

MediciNova Trading Up 2.2 %

MNOV opened at $1.42 on Monday. The company’s 50 day moving average is $1.37 and its 200-day moving average is $1.42. MediciNova has a 1-year low of $1.26 and a 1-year high of $2.66. The company has a market cap of $69.65 million, a P/E ratio of -8.35 and a beta of 0.70.

MediciNova (NASDAQ:MNOV) last posted its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). On average, equities analysts forecast that MediciNova will post -0.23 EPS for the current year.

Institutional Investors Weigh In On MediciNova

A hedge fund recently bought a new stake in MediciNova stock. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of MediciNova, Inc. (NASDAQ:MNOV) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 19,000 shares of the biopharmaceutical company’s stock, valued at approximately $28,000. Hedge funds and other institutional investors own 9.90% of the company’s stock.

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.