MediciNova (NASDAQ:MNOV) Coverage Initiated by Analysts at D. Boral Capital

Equities research analysts at D. Boral Capital started coverage on shares of MediciNova (NASDAQ:MNOV) in a research report issued to clients and investors on Monday,Benzinga reports. The firm set a “buy” rating and a $9.00 price target on the biopharmaceutical company’s stock. D. Boral Capital’s target price points to a potential upside of 334.78% from the stock’s current price.

Separately, StockNews.com began coverage on MediciNova in a research note on Sunday. They issued a “hold” rating on the stock.

MediciNova Stock Up 3.0 %

Shares of MediciNova stock opened at $2.07 on Monday. MediciNova has a 52 week low of $1.12 and a 52 week high of $2.55. The business’s fifty day simple moving average is $1.86 and its 200-day simple moving average is $1.57. The firm has a market cap of $101.53 million, a PE ratio of -9.86 and a beta of 0.77.

Institutional Investors Weigh In On MediciNova

An institutional investor recently raised its position in MediciNova stock. Geode Capital Management LLC lifted its position in MediciNova, Inc. (NASDAQ:MNOV) by 10.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 505,966 shares of the biopharmaceutical company’s stock after buying an additional 47,201 shares during the quarter. Geode Capital Management LLC owned approximately 1.03% of MediciNova worth $1,063,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 9.90% of the company’s stock.

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.