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

Analysts at StockNews.com started coverage on shares of MediciNova (NASDAQ:MNOV) in a report released on Thursday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

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

MediciNova Trading Down 0.5 %

Shares of MediciNova stock opened at $2.10 on Thursday. The firm has a market cap of $103.00 million, a P/E ratio of -10.00 and a beta of 0.84. MediciNova has a 12 month low of $1.12 and a 12 month high of $2.55. The stock’s fifty day moving average price is $1.98 and its 200-day moving average price is $1.69.

Institutional Investors Weigh In On MediciNova

A hedge fund recently raised its stake in MediciNova stock. Geode Capital Management LLC boosted its stake in shares of MediciNova, Inc. (NASDAQ:MNOV) by 10.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 505,966 shares of the biopharmaceutical company’s stock after purchasing an additional 47,201 shares during the quarter. Geode Capital Management LLC owned about 1.03% of MediciNova worth $1,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 9.90% of the stock is owned by hedge funds and other institutional investors.

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.