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

StockNews.com initiated coverage on shares of MediciNova (NASDAQ:MNOV) in a report issued on Sunday. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

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

MediciNova Stock Performance

NASDAQ MNOV opened at $1.98 on Friday. The company has a market capitalization of $97.12 million, a price-to-earnings ratio of -9.43 and a beta of 0.84. The company’s 50-day simple moving average is $2.07 and its two-hundred day simple moving average is $1.77. MediciNova has a one year low of $1.12 and a one year high of $2.55.

Institutional Trading of MediciNova

An institutional investor recently bought a new position in MediciNova stock. Jane Street Group LLC bought a new position in MediciNova, Inc. (NASDAQ:MNOV) in the third quarter, according to its most recent filing with the SEC. The firm bought 14,138 shares of the biopharmaceutical company’s stock, valued at approximately $30,000. 9.90% of the stock is currently 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.