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

Analysts at StockNews.com assumed coverage on shares of MediciNova (NASDAQ:MNOV) in a report released on Thursday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

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

MediciNova Stock Performance

NASDAQ:MNOV opened at $1.50 on Thursday. MediciNova has a 1 year low of $1.12 and a 1 year high of $2.55. The stock has a 50-day simple moving average of $1.52 and a 200-day simple moving average of $1.80. The stock has a market cap of $73.57 million, a P/E ratio of -6.52 and a beta of 0.75.

MediciNova (NASDAQ:MNOV) last posted its quarterly earnings data on Wednesday, February 19th. The biopharmaceutical company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). On average, equities research analysts predict that MediciNova will post -0.24 EPS for the current year.

Hedge Funds Weigh In On MediciNova

A number of hedge funds have recently made changes to their positions in the business. Jane Street Group LLC acquired a new stake in shares of MediciNova during the third quarter valued at about $30,000. Geode Capital Management LLC raised its holdings in MediciNova by 10.3% in the third quarter. Geode Capital Management LLC now owns 505,966 shares of the biopharmaceutical company’s stock valued at $1,063,000 after acquiring an additional 47,201 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in MediciNova during the 4th quarter valued at $78,000. SBI Securities Co. Ltd. bought a new position in MediciNova during the 4th quarter valued at $113,000. Finally, Barclays PLC increased its position in shares of MediciNova by 15.5% in 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 during the last quarter. 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.