MediciNova (NASDAQ:MNOV) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of MediciNova (NASDAQ:MNOVFree Report) in a report published on Wednesday morning. The firm issued a hold rating on the biopharmaceutical company’s stock.

MediciNova Price Performance

MNOV opened at $1.38 on Wednesday. The firm has a market cap of $67.69 million, a P/E ratio of -8.12 and a beta of 0.72. MediciNova has a 1-year low of $1.26 and a 1-year high of $2.66. The company has a 50 day simple moving average of $1.38 and a two-hundred day simple moving average of $1.41.

MediciNova (NASDAQ:MNOVGet Free Report) last posted its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Equities analysts anticipate that MediciNova will post -0.23 earnings per share 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 shares of MediciNova, Inc. (NASDAQ:MNOVFree Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 19,000 shares of the biopharmaceutical company’s stock, valued at approximately $28,000. Institutional investors and hedge funds own 9.90% of the company’s stock.

About MediciNova

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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.

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