MediciNova (NASDAQ:MNOV) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of MediciNova (NASDAQ:MNOV) in a research note issued to investors on Wednesday morning. The firm issued a hold rating on the biopharmaceutical company’s stock.

Separately, D. Boral Capital assumed coverage on MediciNova in a research note on Monday, December 2nd. They set a “buy” rating and a $9.00 target price for the company.

MediciNova Stock Performance

MediciNova stock opened at $1.83 on Wednesday. MediciNova has a one year low of $1.12 and a one year high of $2.55. The stock’s 50 day moving average price is $1.98 and its 200 day moving average price is $1.84. The firm has a market capitalization of $89.76 million, a PE ratio of -7.96 and a beta of 0.82.

MediciNova (NASDAQ:MNOV) last announced its earnings results on Wednesday, February 19th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). On average, analysts forecast that MediciNova will post -0.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MediciNova

A number of institutional investors have recently made changes to their positions in MNOV. 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. Geode Capital Management LLC boosted its stake in MediciNova by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 514,914 shares of the biopharmaceutical company’s stock valued at $1,082,000 after acquiring an additional 8,948 shares during the last quarter. Jane Street Group LLC grew its holdings in MediciNova by 64.5% during the 4th quarter. Jane Street Group LLC now owns 23,259 shares of the biopharmaceutical company’s stock worth $49,000 after acquiring an additional 9,121 shares in the last quarter. Barclays PLC increased its position in shares of MediciNova by 15.5% in 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, Y Intercept Hong Kong Ltd acquired a new stake in shares of MediciNova in the 4th quarter valued at about $78,000. 9.90% of the stock is owned by institutional investors and hedge funds.

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.