MediciNova (NASDAQ:MNOV) Earns Hold Rating from Analysts at StockNews.com

Research analysts at StockNews.com initiated coverage on shares of MediciNova (NASDAQ:MNOV) in a note issued to investors on Sunday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

MediciNova Price Performance

NASDAQ:MNOV opened at $1.33 on Friday. The business has a 50 day moving average of $1.39 and a 200 day moving average of $1.44. The company has a market capitalization of $65.24 million, a price-to-earnings ratio of -7.82 and a beta of 0.70. MediciNova has a 1-year low of $1.26 and a 1-year high of $2.66.

MediciNova (NASDAQ:MNOV) last announced its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). As a group, sell-side analysts anticipate that MediciNova will post -0.23 EPS for the current year.

Hedge Funds Weigh In On MediciNova

An institutional investor recently bought a new position in MediciNova stock. Bank Julius Baer & Co. Ltd Zurich purchased a new position in MediciNova, Inc. (NASDAQ:MNOV) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,000 shares of the biopharmaceutical company’s stock, valued at approximately $28,000. 9.90% of the stock is currently owned by institutional investors and hedge funds.

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.