StockNews.com Begins Coverage on MediciNova (NASDAQ:MNOV)

Stock analysts at StockNews.com assumed coverage on shares of MediciNova (NASDAQ:MNOV) in a research note issued on Monday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

MediciNova Price Performance

Shares of NASDAQ MNOV opened at $1.31 on Monday. The stock has a market capitalization of $64.25 million, a price-to-earnings ratio of -7.71 and a beta of 0.75. The business has a 50-day moving average of $1.40 and a 200-day moving average of $1.57. MediciNova has a fifty-two week low of $1.26 and a fifty-two week high of $2.66.

MediciNova (NASDAQ:MNOV) last announced its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.04. On average, sell-side analysts expect that MediciNova will post -0.23 EPS for the current year.

Institutional Investors Weigh In On MediciNova

An institutional investor recently bought a new position in MediciNova stock. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of MediciNova, Inc. (NASDAQ:MNOV) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 19,000 shares of the biopharmaceutical company’s stock, valued at approximately $28,000. Hedge funds and other institutional investors 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.