MediciNova (NASDAQ:MNOV) Coverage Initiated at D. Boral Capital

D. Boral Capital started coverage on shares of MediciNova (NASDAQ:MNOV) in a research report sent to investors on Monday morning,Benzinga reports. The firm issued a buy rating and a $9.00 price objective on the biopharmaceutical company’s stock.

Separately, StockNews.com assumed coverage on shares of MediciNova in a research report on Sunday. They set a “hold” rating on the stock.

MediciNova Stock Up 15.0 %

MNOV stock opened at $2.38 on Monday. The stock has a market capitalization of $116.74 million, a P/E ratio of -11.33 and a beta of 0.77. The firm has a 50-day simple moving average of $1.87 and a 200-day simple moving average of $1.57. MediciNova has a 52 week low of $1.12 and a 52 week high of $2.55.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in MediciNova stock. Geode Capital Management LLC increased its position in MediciNova, Inc. (NASDAQ:MNOV) by 10.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 505,966 shares of the biopharmaceutical company’s stock after purchasing an additional 47,201 shares during the period. Geode Capital Management LLC owned 1.03% of MediciNova worth $1,063,000 at the end of the most recent quarter. 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.