Stock analysts at StockNews.com started coverage on shares of MediciNova (NASDAQ:MNOV - Get Free Report) in a research note issued on Saturday. The firm set a "hold" rating on the biopharmaceutical company's stock.
Separately, D. Boral Capital reaffirmed a "buy" rating and issued a $9.00 target price on shares of MediciNova in a research report on Wednesday, April 9th.
Get Our Latest Research Report on MNOV
MediciNova Price Performance
MNOV traded up $0.02 during midday trading on Friday, reaching $1.46. 4,074 shares of the company's stock traded hands, compared to its average volume of 37,992. MediciNova has a 52 week low of $1.12 and a 52 week high of $2.55. The firm has a fifty day moving average of $1.45 and a two-hundred day moving average of $1.77. The stock has a market capitalization of $71.61 million, a price-to-earnings ratio of -6.35 and a beta of 0.46.
MediciNova (NASDAQ:MNOV - Get Free Report) last announced its earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.06) EPS for the quarter, beating analysts' consensus estimates of ($0.14) by $0.08. Sell-side analysts forecast that MediciNova will post -0.24 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in MNOV. Jane Street Group LLC bought a new position in MediciNova in the third quarter worth $30,000. Millennium Management LLC grew its position in shares of MediciNova by 26.7% in the 4th quarter. Millennium Management LLC now owns 25,923 shares of the biopharmaceutical company's stock worth $54,000 after buying an additional 5,470 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of MediciNova in the 4th quarter worth about $78,000. SBI Securities Co. Ltd. purchased a new position in MediciNova during the 4th quarter valued at about $113,000. Finally, Barclays PLC lifted its position in 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 acquiring an additional 12,800 shares during the period. Hedge funds and other institutional investors own 9.90% of the company's stock.
MediciNova Company Profile
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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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