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

by · The Cerbat Gem

StockNews.com assumed coverage on shares of MediciNova (NASDAQ:MNOV – Free Report) in a research report report published on Saturday morning. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

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

Check Out Our Latest Analysis on MediciNova

MediciNova Trading Down 1.4%

Shares of MNOV opened at $1.45 on Friday. The firm has a market capitalization of $71.12 million, a P/E ratio of -6.30 and a beta of 0.46. The stock’s fifty day simple moving average is $1.45 and its 200 day simple moving average is $1.77. MediciNova has a twelve month low of $1.12 and a twelve month high of $2.55.

MediciNova (NASDAQ:MNOV – Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The biopharmaceutical company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). Sell-side analysts predict that MediciNova will post -0.24 earnings per share for the current year.

Hedge Funds Weigh In On MediciNova

A number of large investors have recently bought and sold shares of the business. Millennium Management LLC lifted its holdings in MediciNova by 26.7% in the fourth quarter. Millennium Management LLC now owns 25,923 shares of the biopharmaceutical company’s stock worth $54,000 after acquiring an additional 5,470 shares during the last quarter. 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 purchasing an additional 84,963 shares in the last quarter. 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 purchasing an additional 9,121 shares in the last quarter. 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 purchasing an additional 12,800 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in MediciNova by 1.8% during the fourth 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 in the last quarter. Institutional investors own 9.90% of the company’s stock.

About MediciNova

(Get Free Report)

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.

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