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

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

MediciNova Stock Performance

MediciNova stock opened at $1.33 on Friday. MediciNova has a one year low of $1.26 and a one year high of $2.66. The business has a fifty day moving average of $1.40 and a two-hundred day moving average of $1.58. The company has a market cap of $65.24 million, a P/E ratio of -7.82 and a beta of 0.75.

MediciNova (NASDAQ:MNOV) last released its earnings results on Thursday, February 15th. The biopharmaceutical company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.04. Sell-side analysts predict that MediciNova will post -0.23 EPS for the current year.

Institutional Investors Weigh In On MediciNova

A hedge fund recently bought a new stake in MediciNova stock. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in MediciNova, Inc. (NASDAQ:MNOV) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 19,000 shares of the biopharmaceutical company’s stock, valued at approximately $28,000. 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.