MediciNova (MNOV) Cut to “Buy” at BidaskClub

BidaskClub cut shares of MediciNova (NASDAQ:MNOV) from a strong-buy rating to a buy rating in a research report report published on Wednesday.

Separately, ValuEngine upgraded MediciNova from a sell rating to a hold rating in a report on Wednesday, February 7th.

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Shares of MNOV stock opened at $11.69 on Wednesday. MediciNova has a fifty-two week low of $4.40 and a fifty-two week high of $14.50.

A number of large investors have recently made changes to their positions in the business. Paloma Partners Management Co acquired a new stake in MediciNova during the 4th quarter valued at $198,000. Deutsche Bank AG grew its holdings in MediciNova by 151.6% during the 4th quarter. Deutsche Bank AG now owns 78,345 shares of the biopharmaceutical company’s stock valued at $506,000 after buying an additional 47,209 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of MediciNova by 123.3% during the 4th quarter. Renaissance Technologies LLC now owns 79,500 shares of the biopharmaceutical company’s stock worth $514,000 after purchasing an additional 43,900 shares during the period. Geode Capital Management LLC lifted its stake in shares of MediciNova by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 232,411 shares of the biopharmaceutical company’s stock worth $1,503,000 after purchasing an additional 5,853 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of MediciNova by 1,645.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 29,002 shares of the biopharmaceutical company’s stock worth $187,000 after purchasing an additional 27,340 shares during the period. Hedge funds and other institutional investors own 18.79% of the company’s stock.

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MediciNova Company Profile

MediciNova, Inc, a biopharmaceutical company, focuses on acquiring and developing novel and small molecule therapeutics for the treatment of serious diseases with unmet medical needs in the United States. The company's product candidate includes MN-166 (ibudilast), an oral anti-inflammatory and neuroprotective agent for the treatment of neurological disorders consisting of primary and secondary progressive multiple sclerosis; amyotrophic lateral sclerosis; and substance dependence and addiction.

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