MediciNova’s (MNOV) “Buy” Rating Reaffirmed at D. Boral Capital

MediciNova (NASDAQ:MNOV)‘s stock had its “buy” rating reissued by research analysts at D. Boral Capital in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $9.00 price target on the biopharmaceutical company’s stock.

Separately, StockNews.com started coverage on shares of MediciNova in a research report on Friday, March 7th. They issued a “hold” rating for the company.

MediciNova Price Performance

Shares of NASDAQ MNOV opened at $1.47 on Friday. The company has a market capitalization of $72.10 million, a price-to-earnings ratio of -6.39 and a beta of 0.73. MediciNova has a 1-year low of $1.12 and a 1-year high of $2.55. The business has a 50-day moving average of $1.84 and a 200-day moving average of $1.88.

MediciNova (NASDAQ:MNOV) last posted its quarterly earnings data on Wednesday, February 19th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). Research analysts expect that MediciNova will post -0.24 EPS for the current fiscal year.

Institutional Trading of MediciNova

A number of hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC bought a new position in MediciNova during the 3rd quarter valued at $30,000. Geode Capital Management LLC lifted its holdings in MediciNova by 10.3% during the 3rd quarter. Geode Capital Management LLC now owns 505,966 shares of the biopharmaceutical company’s stock worth $1,063,000 after buying an additional 47,201 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of MediciNova in the 4th quarter worth approximately $78,000. SBI Securities Co. Ltd. bought a new stake in shares of MediciNova in the 4th quarter valued at approximately $113,000. Finally, Millennium Management LLC raised its position in shares of MediciNova by 26.7% during the 4th quarter. Millennium Management LLC now owns 25,923 shares of the biopharmaceutical company’s stock valued at $54,000 after acquiring an additional 5,470 shares in the last quarter. Institutional investors and hedge funds own 9.90% of the company’s stock.

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.