StockNews.com Initiates Coverage on MediciNova (NASDAQ:MNOV)

Stock analysts at StockNews.com began coverage on shares of MediciNova (NASDAQ:MNOV) in a report released on Monday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

MediciNova Price Performance

MediciNova stock opened at $1.29 on Monday. The company has a market cap of $63.27 million, a PE ratio of -7.59 and a beta of 0.75. The company has a fifty day moving average price of $1.40 and a two-hundred day moving average price of $1.56. MediciNova has a 12 month low of $1.26 and a 12 month high of $2.66.

MediciNova (NASDAQ:MNOV) last released its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.04. Equities research analysts anticipate that MediciNova will post -0.23 earnings per share for the current year.

Hedge Funds Weigh In On MediciNova

An institutional investor recently bought a new position in MediciNova stock. Bank Julius Baer & Co. Ltd Zurich purchased a new stake 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 fund 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.

MediciNova Company Profile

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.