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

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

MediciNova Stock Down 2.9 %

NASDAQ:MNOV opened at $1.34 on Thursday. The firm has a market cap of $65.73 million, a PE ratio of -7.88 and a beta of 0.72. MediciNova has a 12 month low of $1.26 and a 12 month high of $2.56. The company’s 50-day moving average price is $1.38 and its two-hundred day moving average price is $1.40.

MediciNova (NASDAQ:MNOV) last announced its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). On average, research analysts expect that MediciNova will post -0.23 EPS for the current fiscal year.

Hedge Funds Weigh In On MediciNova

A hedge fund recently bought a new stake in MediciNova stock. Bank Julius Baer & Co. Ltd Zurich bought a new stake in MediciNova, Inc. (NASDAQ:MNOV) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 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

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.