StockNews.com Initiates Coverage on MediciNova (NASDAQ:MNOV)

by · The Markets Daily

Equities researchers at StockNews.com assumed coverage on shares of MediciNova (NASDAQ:MNOV – Get Free Report) in a research report issued to clients and investors on Monday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Separately, D. Boral Capital restated a “buy” rating and issued a $9.00 price target on shares of MediciNova in a research report on Friday, March 14th.

Read Our Latest Stock Report on MediciNova

MediciNova Stock Down 0.7 %

Shares of NASDAQ:MNOV opened at $1.45 on Monday. The firm has a market cap of $71.12 million, a P/E ratio of -6.30 and a beta of 0.73. MediciNova has a 12-month low of $1.12 and a 12-month high of $2.55. The business has a fifty day simple moving average of $1.72 and a 200 day simple moving average of $1.87.

MediciNova (NASDAQ:MNOV – Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.06). As a group, equities research analysts expect that MediciNova will post -0.24 EPS for the current year.

Institutional Trading of MediciNova

Large investors have recently modified their holdings of the stock. Jane Street Group LLC acquired a new stake in MediciNova in the third quarter worth $30,000. Geode Capital Management LLC boosted its position in shares of MediciNova by 10.3% during the 3rd quarter. Geode Capital Management LLC now owns 505,966 shares of the biopharmaceutical company’s stock worth $1,063,000 after purchasing an additional 47,201 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of MediciNova in the 4th quarter valued at about $78,000. SBI Securities Co. Ltd. bought a new stake in MediciNova in the 4th quarter valued at about $113,000. Finally, Millennium Management LLC raised its stake in MediciNova by 26.7% during the 4th 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 during the period. Institutional investors and hedge funds own 9.90% of the company’s stock.

MediciNova Company Profile

(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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