MediciNova's (MNOV) Buy Rating Reiterated at D. Boral Capital

MediciNova (NASDAQ:MNOV - Get Free Report)'s stock had its "buy" rating reiterated by D. Boral Capital in a research note issued to investors on Thursday,Benzinga reports. They currently have a $9.00 price objective on the biopharmaceutical company's stock.

MNOV has been the topic of several other research reports. Wall Street Zen initiated coverage on shares of MediciNova in a research report on Sunday, May 18th. They set a "hold" rating on the stock. B. Riley raised shares of MediciNova from a "buy" rating to a "strong-buy" rating and lowered their price target for the company from $6.00 to $5.00 in a research report on Monday, June 16th.

MediciNova Stock Down 0.4%

MNOV stock traded down $0.00 during trading on Thursday, reaching $1.26. The stock had a trading volume of 91,195 shares, compared to its average volume of 17,766. MediciNova has a one year low of $1.12 and a one year high of $2.55. The company's 50 day moving average is $1.33 and its two-hundred day moving average is $1.54. The company has a market capitalization of $61.55 million, a price-to-earnings ratio of -5.46 and a beta of 0.40.

MediciNova (NASDAQ:MNOV - Get Free Report) last announced its quarterly 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. As a group, research analysts predict that MediciNova will post -0.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MediciNova

A number of hedge funds have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of MediciNova by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 514,914 shares of the biopharmaceutical company's stock worth $1,082,000 after purchasing an additional 8,948 shares during the period. Bank of America Corp DE boosted its position in shares of MediciNova by 111.3% in the fourth quarter. Bank of America Corp DE now owns 161,312 shares of the biopharmaceutical company's stock worth $339,000 after purchasing an additional 84,963 shares during the period. Barclays PLC boosted its position in shares of MediciNova by 15.5% during the fourth quarter. Barclays PLC now owns 95,600 shares of the biopharmaceutical company's stock worth $201,000 after acquiring an additional 12,800 shares during the last quarter. Millennium Management LLC boosted its position in shares of MediciNova by 26.7% during the fourth quarter. Millennium Management LLC now owns 25,923 shares of the biopharmaceutical company's stock worth $54,000 after acquiring an additional 5,470 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in shares of MediciNova by 64.5% during the fourth quarter. Jane Street Group LLC now owns 23,259 shares of the biopharmaceutical company's stock worth $49,000 after acquiring an additional 9,121 shares during the last quarter. 9.90% of the stock is currently owned by institutional investors.

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.

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