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

StockNews.com started coverage on shares of MediciNova (NASDAQ:MNOV) in a research report sent to investors on Sunday morning. The firm issued a hold rating on the biopharmaceutical company’s stock.

Separately, D. Boral Capital reaffirmed a “buy” rating and set a $9.00 target price on shares of MediciNova in a research note on Friday, March 14th.

MediciNova Trading Down 1.3 %

Shares of MediciNova stock opened at $1.47 on Friday. MediciNova has a twelve month low of $1.12 and a twelve month high of $2.55. The firm has a market capitalization of $72.10 million, a PE ratio of -6.39 and a beta of 0.73. The firm’s 50-day moving average price is $1.75 and its 200 day moving average price is $1.88.

MediciNova (NASDAQ:MNOV) last released its earnings results on Wednesday, February 19th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). On average, sell-side analysts predict that MediciNova will post -0.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its position in shares of MediciNova by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 514,914 shares of the biopharmaceutical company’s stock valued at $1,082,000 after purchasing an additional 8,948 shares in the last quarter. Bank of America Corp DE boosted its stake in MediciNova by 111.3% during the fourth quarter. Bank of America Corp DE now owns 161,312 shares of the biopharmaceutical company’s stock worth $339,000 after buying an additional 84,963 shares during the last quarter. Barclays PLC boosted its stake in MediciNova by 15.5% during the fourth quarter. Barclays PLC now owns 95,600 shares of the biopharmaceutical company’s stock worth $201,000 after buying an additional 12,800 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in MediciNova in the 4th quarter valued at $113,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of MediciNova in the 4th quarter worth $78,000. 9.90% of the stock is owned by hedge funds and other institutional investors.

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.