MediciNova (NASDAQ:MNOV) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of MediciNova (NASDAQ:MNOV) in a research report sent to investors on Sunday. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

MediciNova Price Performance

Shares of MNOV stock opened at $1.36 on Friday. The firm’s 50-day moving average is $1.40 and its two-hundred day moving average is $1.58. MediciNova has a 12 month low of $1.26 and a 12 month high of $2.66. The company has a market capitalization of $66.46 million, a PE ratio of -7.97 and a beta of 0.75.

MediciNova (NASDAQ:MNOV) last issued its earnings results on Thursday, February 15th. The biopharmaceutical company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.04. Sell-side analysts forecast that MediciNova will post -0.23 EPS for the current year.

Hedge Funds Weigh In On MediciNova

A hedge fund recently bought a new stake in MediciNova stock. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in MediciNova, Inc. (NASDAQ:MNOV) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 19,000 shares of the biopharmaceutical company’s stock, valued at approximately $28,000. 9.90% of the stock is owned by institutional investors.

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.