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

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

Separately, D. Boral Capital restated a “buy” rating and issued a $9.00 price objective on shares of MediciNova in a report on Friday, February 21st.

MediciNova Price Performance

Shares of NASDAQ:MNOV opened at $1.64 on Thursday. The stock’s 50-day moving average is $1.93 and its 200 day moving average is $1.86. The company has a market cap of $80.44 million, a PE ratio of -7.13 and a beta of 0.82. MediciNova has a 1 year low of $1.12 and a 1 year high of $2.55.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Bank of America Corp DE grew its stake 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 worth $339,000 after purchasing an additional 84,963 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of MediciNova during the 4th quarter valued at $113,000. Geode Capital Management LLC grew its position in shares of MediciNova by 10.3% in the 3rd quarter. Geode Capital Management LLC now owns 505,966 shares of the biopharmaceutical company’s stock worth $1,063,000 after buying an additional 47,201 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of MediciNova in the 4th quarter worth about $78,000. Finally, Jane Street Group LLC purchased a new position in MediciNova during the 3rd quarter valued at about $30,000. Institutional investors own 9.90% of the company’s stock.

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.