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

StockNews.com assumed coverage on shares of MediciNova (NASDAQ:MNOVGet Rating) in a research note issued to investors on Thursday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

Separately, B. Riley decreased their price target on shares of MediciNova from $11.00 to $6.00 in a report on Monday, January 24th.

MNOV opened at $3.03 on Thursday. The stock has a market cap of $148.60 million, a price-to-earnings ratio of -13.17 and a beta of 1.25. MediciNova has a twelve month low of $2.09 and a twelve month high of $5.09. The company’s 50-day moving average price is $2.51 and its two-hundred day moving average price is $2.92.

Several hedge funds have recently made changes to their positions in the company. Buckingham Strategic Partners purchased a new position in MediciNova during the fourth quarter valued at approximately $27,000. Qube Research & Technologies Ltd purchased a new position in MediciNova during the fourth quarter valued at approximately $37,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in MediciNova during the fourth quarter valued at approximately $51,000. Marshall Wace LLP purchased a new position in MediciNova during the first quarter valued at approximately $54,000. Finally, UBS Group AG lifted its holdings in MediciNova by 96.0% during the third quarter. UBS Group AG now owns 19,272 shares of the biopharmaceutical company’s stock valued at $73,000 after purchasing an additional 9,437 shares in the last quarter. Hedge funds and other institutional investors own 15.76% of the company’s stock.

About MediciNova (Get Rating)

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. The company is developing MN-166 (ibudilast), an oral anti-inflammatory and neuroprotective agent for treating neurological 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.

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