MediciNova (NASDAQ:MNOV) Coverage Initiated by Analysts at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of MediciNova (NASDAQ:MNOV) in a report issued on Wednesday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Separately, D. Boral Capital initiated coverage on MediciNova in a report on Monday, December 2nd. They issued a “buy” rating and a $9.00 price target for the company.

MediciNova Stock Down 2.4 %

Shares of MediciNova stock opened at $2.07 on Wednesday. The firm has a market cap of $101.53 million, a PE ratio of -9.86 and a beta of 0.84. MediciNova has a fifty-two week low of $1.12 and a fifty-two week high of $2.55. The business’s fifty day moving average is $1.94 and its two-hundred day moving average is $1.66.

Institutional Investors Weigh In On MediciNova

An institutional investor recently bought a new position in MediciNova stock. Jane Street Group LLC acquired a new position in shares of MediciNova, Inc. (NASDAQ:MNOV) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 14,138 shares of the biopharmaceutical company’s stock, valued at approximately $30,000. Institutional investors and hedge funds 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.