MediciNova (NASDAQ:MNOV) Receives New Coverage from Analysts at StockNews.com

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

MediciNova Price Performance

MNOV stock opened at $1.39 on Monday. MediciNova has a 1 year low of $1.26 and a 1 year high of $2.66. The stock’s fifty day moving average price is $1.37 and its 200-day moving average price is $1.42. The company has a market cap of $68.18 million, a P/E ratio of -8.18 and a beta of 0.70.

MediciNova (NASDAQ:MNOV) last announced its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). As a group, analysts expect that MediciNova will post -0.23 earnings per share for the current 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 position in MediciNova, Inc. (NASDAQ:MNOV) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 19,000 shares of the biopharmaceutical company’s stock, valued at approximately $28,000. 9.90% of the stock is owned by institutional investors and hedge funds.

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.