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

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

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

MediciNova Stock Performance

Shares of NASDAQ MNOV opened at $1.84 on Tuesday. MediciNova has a twelve month low of $1.12 and a twelve month high of $2.55. The firm has a 50-day moving average of $2.03 and a two-hundred day moving average of $1.81. The company has a market capitalization of $90.25 million, a price-to-earnings ratio of -8.76 and a beta of 0.82.

Institutional Investors Weigh In On MediciNova

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC acquired a new position in shares of MediciNova in the 3rd quarter valued at $30,000. Y Intercept Hong Kong Ltd purchased a new stake in MediciNova during the fourth quarter valued at about $78,000. SBI Securities Co. Ltd. purchased a new stake in MediciNova during the fourth quarter valued at about $113,000. Finally, Geode Capital Management LLC boosted its holdings in shares of MediciNova by 10.3% in the third 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 period. 9.90% of the stock is owned by institutional investors and hedge funds.

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.