MediciNova’s (MNOV) “Buy” Rating Reiterated at D. Boral Capital

D. Boral Capital reissued their buy rating on shares of MediciNova (NASDAQ:MNOV) in a report issued on Friday,Benzinga reports. D. Boral Capital currently has a $9.00 price target on the biopharmaceutical company’s stock.

Separately, StockNews.com initiated coverage on MediciNova in a report on Friday, March 7th. They set a “hold” rating for the company.

MediciNova Trading Up 5.4 %

Shares of MNOV opened at $1.55 on Friday. The company has a market capitalization of $76.02 million, a price-to-earnings ratio of -6.74 and a beta of 0.73. The stock has a 50 day moving average of $1.82 and a 200 day moving average of $1.89. MediciNova has a 12 month low of $1.12 and a 12 month high of $2.55.

MediciNova (NASDAQ:MNOV) last issued its quarterly earnings results on Wednesday, February 19th. The biopharmaceutical company reported ($0.06) EPS for the quarter, meeting analysts’ consensus estimates of ($0.06). As a group, equities research analysts predict that MediciNova will post -0.24 earnings per share for the current year.

Hedge Funds Weigh In On MediciNova

Several institutional investors and hedge funds have recently bought and sold shares of MNOV. Geode Capital Management LLC boosted its holdings in shares of MediciNova by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 514,914 shares of the biopharmaceutical company’s stock worth $1,082,000 after acquiring an additional 8,948 shares during the period. Bank of America Corp DE boosted its holdings in shares of MediciNova by 111.3% in the fourth quarter. Bank of America Corp DE now owns 161,312 shares of the biopharmaceutical company’s stock worth $339,000 after acquiring an additional 84,963 shares during the period. Barclays PLC boosted its holdings in shares of MediciNova by 15.5% in the fourth quarter. Barclays PLC now owns 95,600 shares of the biopharmaceutical company’s stock worth $201,000 after acquiring an additional 12,800 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of MediciNova in the fourth quarter worth $113,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of MediciNova in the fourth quarter worth $78,000. 9.90% of the stock is owned by institutional investors.

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.