MediciNova (NASDAQ:MNOV) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of MediciNova (NASDAQ:MNOV - Free Report) in a research report released on Friday morning. The firm issued a hold rating on the biopharmaceutical company's stock.

Separately, D. Boral Capital reiterated a "buy" rating and set a $9.00 target price on shares of MediciNova in a research report on Wednesday, April 9th.

MediciNova Price Performance

Shares of NASDAQ MNOV traded up $0.04 during trading hours on Friday, reaching $1.51. The stock had a trading volume of 1,430 shares, compared to its average volume of 38,676. MediciNova has a twelve month low of $1.12 and a twelve month high of $2.55. The business's fifty day moving average is $1.47 and its two-hundred day moving average is $1.78. The company has a market cap of $74.06 million, a price-to-earnings ratio of -6.56 and a beta of 0.75.

MediciNova (NASDAQ:MNOV - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The biopharmaceutical company reported ($0.06) EPS for the quarter, hitting analysts' consensus estimates of ($0.06). Sell-side analysts forecast that MediciNova will post -0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MediciNova

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its holdings 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 valued at $339,000 after purchasing an additional 84,963 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of MediciNova in the 4th quarter valued at $113,000. Geode Capital Management LLC raised its position in shares of MediciNova by 10.3% during the third quarter. Geode Capital Management LLC now owns 505,966 shares of the biopharmaceutical company's stock worth $1,063,000 after acquiring an additional 47,201 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of MediciNova during the fourth quarter valued at $78,000. Finally, Jane Street Group LLC bought a new position in MediciNova in the third quarter valued at about $30,000. 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.