Analysts at StockNews.com began coverage on shares of MediciNova (NASDAQ:MNOV - Get Free Report) in a research report issued to clients and investors on Saturday. The firm set a "hold" rating on the biopharmaceutical company's stock.
Separately, D. Boral Capital reaffirmed a "buy" rating and set a $9.00 target price on shares of MediciNova in a research note on Wednesday, April 9th.
Check Out Our Latest Report on MediciNova
MediciNova Trading Up 0.4%
MNOV stock traded up $0.01 during trading hours on Friday, hitting $1.38. 6,336 shares of the stock traded hands, compared to its average volume of 37,919. The stock has a 50-day simple moving average of $1.45 and a 200 day simple moving average of $1.77. MediciNova has a one year low of $1.12 and a one year high of $2.55. The company has a market cap of $67.44 million, a P/E ratio of -5.98 and a beta of 0.46.
MediciNova (NASDAQ:MNOV - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, beating analysts' consensus estimates of ($0.14) by $0.08. Analysts forecast that MediciNova will post -0.24 earnings per share for the current year.
Hedge Funds Weigh In On MediciNova
Several institutional investors and hedge funds have recently bought and sold shares of MNOV. Bank of America Corp DE grew its stake in MediciNova by 111.3% during the 4th quarter. Bank of America Corp DE now owns 161,312 shares of the biopharmaceutical company's stock valued at $339,000 after acquiring an additional 84,963 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of MediciNova during the 4th quarter valued at about $113,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of MediciNova during the 4th quarter valued at about $78,000. Jane Street Group LLC acquired a new stake in shares of MediciNova during the 3rd quarter valued at about $30,000. Finally, Barclays PLC lifted its holdings in shares of MediciNova by 15.5% during the 4th quarter. Barclays PLC now owns 95,600 shares of the biopharmaceutical company's stock valued at $201,000 after buying an additional 12,800 shares during the last quarter. Hedge funds and other institutional investors own 9.90% of the company's stock.
About MediciNova
(
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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