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

StockNews.com began coverage on shares of MediciNova (NASDAQ:MNOV) in a report published on Monday morning. The firm issued a hold rating on the biopharmaceutical company’s stock.

MediciNova Stock Performance

Shares of NASDAQ MNOV opened at $1.39 on Monday. The company’s 50-day moving average price is $1.37 and its 200 day moving average price is $1.42. MediciNova has a 52 week low of $1.26 and a 52 week high of $2.66. The stock has a market cap of $68.18 million, a price-to-earnings ratio of -8.18 and a beta of 0.70.

MediciNova (NASDAQ:MNOV) last released its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). As a group, research analysts expect that MediciNova will post -0.23 earnings per share for the current year.

Institutional Trading of MediciNova

An institutional investor recently bought a new position in MediciNova stock. Bank Julius Baer & Co. Ltd Zurich bought a new stake in MediciNova, Inc. (NASDAQ:MNOV) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 19,000 shares of the biopharmaceutical company’s stock, valued at approximately $28,000. Hedge funds and other 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.