MediciNova (NASDAQ:MNOV) Coverage Initiated at StockNews.com

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

MediciNova Trading Down 1.7 %

NASDAQ MNOV opened at $1.19 on Friday. The stock has a 50 day moving average of $1.36 and a 200-day moving average of $1.39. MediciNova has a 12 month low of $1.17 and a 12 month high of $2.54. The company has a market cap of $58.36 million, a PE ratio of -7.00 and a beta of 0.72.

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

Institutional Trading of MediciNova

An institutional investor recently bought a new position in MediciNova stock. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of MediciNova, Inc. (NASDAQ:MNOV) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,000 shares of the biopharmaceutical company’s stock, valued at approximately $28,000. Institutional investors own 9.90% of the company’s stock.

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.