MediciNova (NASDAQ:MNOV) Earns Hold Rating from Analysts at StockNews.com

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

Separately, D. Boral Capital reissued a “buy” rating and issued a $9.00 price target on shares of MediciNova in a research note on Friday, February 21st.

MediciNova Trading Up 1.3 %

NASDAQ:MNOV opened at $1.59 on Friday. The stock’s 50-day moving average is $1.89 and its 200-day moving average is $1.88. The stock has a market cap of $77.98 million, a P/E ratio of -6.91 and a beta of 0.73. MediciNova has a 1-year low of $1.12 and a 1-year high of $2.55.

MediciNova (NASDAQ:MNOV) last posted its quarterly earnings data on Wednesday, February 19th. The biopharmaceutical company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). As a group, equities analysts forecast that MediciNova will post -0.24 EPS for the current year.

Institutional Investors Weigh In On MediciNova

Institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC bought a new stake in MediciNova during the third quarter worth $30,000. Millennium Management LLC grew its stake in shares of MediciNova by 26.7% during the 4th 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 period. Y Intercept Hong Kong Ltd bought a new position in shares of MediciNova during the 4th quarter worth $78,000. SBI Securities Co. Ltd. purchased a new stake in MediciNova during the 4th quarter worth about $113,000. Finally, Barclays PLC lifted its holdings in MediciNova by 15.5% during the 4th quarter. Barclays PLC now owns 95,600 shares of the biopharmaceutical company’s stock worth $201,000 after purchasing an additional 12,800 shares in the last quarter. Institutional investors own 9.90% of the company’s stock.

About MediciNova

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.