MediciNova (NASDAQ:MNOV) Coverage Initiated at StockNews.com

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

MediciNova Stock Performance

Shares of NASDAQ:MNOV opened at $1.38 on Monday. MediciNova has a 52 week low of $1.26 and a 52 week high of $2.66. The company has a market capitalization of $67.69 million, a PE ratio of -8.12 and a beta of 0.70. The company has a 50 day moving average price of $1.40 and a two-hundred day moving average price of $1.55.

MediciNova (NASDAQ:MNOV) last issued its earnings results on Thursday, February 15th. The biopharmaceutical company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.04. On average, sell-side analysts forecast 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 acquired a new position in shares of MediciNova, Inc. (NASDAQ:MNOV) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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.