StockNews.com Initiates Coverage on MediciNova (NASDAQ:MNOV)

Equities researchers at StockNews.com began coverage on shares of MediciNova (NASDAQ:MNOV) in a research report issued on Tuesday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

MediciNova Stock Performance

Shares of NASDAQ:MNOV opened at $1.40 on Tuesday. MediciNova has a 12-month low of $1.26 and a 12-month high of $2.66. The company has a market capitalization of $68.66 million, a PE ratio of -8.24 and a beta of 0.72. The business has a 50 day moving average of $1.37 and a two-hundred day moving average of $1.41.

MediciNova (NASDAQ:MNOV) last announced its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Equities research analysts predict that MediciNova will post -0.23 earnings per share for the current fiscal year.

Institutional Trading of MediciNova

An institutional investor recently bought a new position in MediciNova stock. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of MediciNova, Inc. (NASDAQ:MNOV) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 19,000 shares of the biopharmaceutical company’s stock, valued at approximately $28,000. 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.