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

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

MediciNova Price Performance

MNOV opened at $1.29 on Monday. The stock has a market cap of $63.27 million, a PE ratio of -7.59 and a beta of 0.75. MediciNova has a 52 week low of $1.26 and a 52 week high of $2.66. The business’s fifty day simple moving average is $1.40 and its 200 day simple moving average is $1.56.

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. As a group, equities analysts anticipate that MediciNova will post -0.23 earnings per share for the current year.

Institutional Trading of MediciNova

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