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

Stock analysts at StockNews.com began coverage on shares of MediciNova (NASDAQ:MNOV) in a research note issued on Tuesday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

MediciNova Stock Performance

Shares of NASDAQ MNOV opened at $1.44 on Tuesday. The stock’s 50-day simple moving average is $1.37 and its 200-day simple moving average is $1.42. The firm has a market capitalization of $70.63 million, a PE ratio of -8.47 and a beta of 0.72. MediciNova has a fifty-two week low of $1.26 and a fifty-two week high of $2.66.

MediciNova (NASDAQ:MNOV) last posted its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). On average, sell-side analysts forecast that MediciNova will post -0.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MediciNova

An institutional investor recently bought a new position in MediciNova stock. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of MediciNova, Inc. (NASDAQ:MNOV) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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.

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.