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

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

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

MediciNova Stock Down 2.1 %

Shares of MediciNova stock opened at $1.89 on Friday. MediciNova has a 12-month low of $1.12 and a 12-month high of $2.55. The stock has a 50 day moving average price of $2.06 and a two-hundred day moving average price of $1.76. The stock has a market capitalization of $92.70 million, a P/E ratio of -9.00 and a beta of 0.84.

Institutional Trading of MediciNova

A hedge fund recently bought a new stake in MediciNova stock. Jane Street Group LLC acquired a new stake in MediciNova, Inc. (NASDAQ:MNOV) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 14,138 shares of the biopharmaceutical company’s stock, valued at approximately $30,000. 9.90% of the stock is owned by institutional investors and hedge funds.

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.