MediciNova (NASDAQ:MNOV) Earns Hold Rating from Analysts at StockNews.com

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

Separately, D. Boral Capital began coverage on MediciNova in a research note on Monday, December 2nd. They set a “buy” rating and a $9.00 price objective on the stock.

MediciNova Price Performance

Shares of MNOV opened at $2.34 on Monday. MediciNova has a 1 year low of $1.12 and a 1 year high of $2.55. The stock has a 50 day simple moving average of $1.90 and a two-hundred day simple moving average of $1.60. The firm has a market cap of $114.77 million, a P/E ratio of -11.14 and a beta of 0.84.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in MediciNova stock. Jane Street Group LLC purchased a new position in MediciNova, Inc. (NASDAQ:MNOV) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 14,138 shares of the biopharmaceutical company’s stock, valued at approximately $30,000. Institutional investors 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.