MediciNova (NASDAQ:MNOV) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of MediciNova (NASDAQ:MNOV) in a research report sent to investors on Friday morning. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

MediciNova Trading Up 0.8 %

NASDAQ MNOV opened at $1.31 on Friday. The company has a market capitalization of $64.26 million, a PE ratio of -7.71 and a beta of 0.72. MediciNova has a 1-year low of $1.26 and a 1-year high of $2.56. The firm’s fifty day simple moving average is $1.37 and its 200-day simple moving average is $1.40.

MediciNova (NASDAQ:MNOV) last issued its earnings results 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, analysts predict that MediciNova will post -0.23 EPS for the current year.

Institutional Trading of MediciNova

A hedge fund recently bought a new stake in MediciNova stock. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of MediciNova, Inc. (NASDAQ:MNOV) during the 4th quarter, according to the company in its most recent 13F filing with the 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 owned by institutional investors.

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.