MediciNova (NASDAQ:MNOV) Coverage Initiated by Analysts at StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of MediciNova (NASDAQ:MNOV) in a research report issued to clients and investors on Monday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

Separately, D. Boral Capital started coverage on MediciNova in a report on Monday, December 2nd. They issued a “buy” rating and a $9.00 price target on the stock.

MediciNova Trading Down 1.7 %

NASDAQ MNOV opened at $2.26 on Monday. The stock has a market capitalization of $110.85 million, a price-to-earnings ratio of -10.76 and a beta of 0.84. The business’s 50 day moving average is $1.91 and its two-hundred day moving average is $1.61. MediciNova has a 12-month low of $1.12 and a 12-month high of $2.55.

Institutional Investors Weigh In On MediciNova

An institutional investor recently raised its position in MediciNova stock. Geode Capital Management LLC raised its stake in shares of MediciNova, Inc. (NASDAQ:MNOV) by 10.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 505,966 shares of the biopharmaceutical company’s stock after buying an additional 47,201 shares during the quarter. Geode Capital Management LLC owned about 1.03% of MediciNova worth $1,063,000 at the end of the most recent reporting period. 9.90% of the stock is owned by institutional investors and hedge funds.

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.