MediciNova’s (MNOV) “Buy” Rating Reaffirmed at D. Boral Capital

D. Boral Capital reiterated their buy rating on shares of MediciNova (NASDAQ:MNOV) in a research report sent to investors on Friday morning,Benzinga reports. D. Boral Capital currently has a $9.00 target price on the biopharmaceutical company’s stock.

Separately, StockNews.com initiated coverage on shares of MediciNova in a research report on Friday, March 7th. They set a “hold” rating on the stock.

MediciNova Stock Performance

Shares of MNOV opened at $1.55 on Friday. MediciNova has a 52 week low of $1.12 and a 52 week high of $2.55. The stock has a market capitalization of $76.02 million, a price-to-earnings ratio of -6.74 and a beta of 0.73. The stock has a fifty day moving average of $1.82 and a 200-day moving average of $1.88.

MediciNova (NASDAQ:MNOV) last posted its earnings results on Wednesday, February 19th. The biopharmaceutical company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). As a group, equities analysts forecast that MediciNova will post -0.24 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MNOV. Millennium Management LLC grew its position in shares of MediciNova by 26.7% in 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 during the last quarter. Bank of America Corp DE boosted its holdings in MediciNova by 111.3% in the fourth quarter. Bank of America Corp DE now owns 161,312 shares of the biopharmaceutical company’s stock valued at $339,000 after acquiring an additional 84,963 shares during the last quarter. Jane Street Group LLC increased its position in MediciNova by 64.5% during the 4th quarter. Jane Street Group LLC now owns 23,259 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 9,121 shares during the period. Barclays PLC raised its holdings in MediciNova by 15.5% during the 4th quarter. Barclays PLC now owns 95,600 shares of the biopharmaceutical company’s stock worth $201,000 after purchasing an additional 12,800 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of MediciNova by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 514,914 shares of the biopharmaceutical company’s stock worth $1,082,000 after purchasing an additional 8,948 shares during the period. 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.