Analysts at StockNews.com initiated coverage on shares of MediciNova (NASDAQ:MNOV - Get Free Report) in a research note issued on Wednesday. The brokerage set a "hold" rating on the biopharmaceutical company's stock.
Separately, D. Boral Capital restated a "buy" rating and issued a $9.00 target price on shares of MediciNova in a research note on Wednesday, April 9th.
Check Out Our Latest Stock Report on MNOV
MediciNova Stock Performance
MNOV remained flat at $1.45 during trading on Wednesday. 6,458 shares of the company's stock traded hands, compared to its average volume of 38,620. MediciNova has a 1-year low of $1.12 and a 1-year high of $2.55. The business's fifty day moving average is $1.55 and its 200 day moving average is $1.81. The firm has a market cap of $71.12 million, a P/E ratio of -6.30 and a beta of 0.75.
MediciNova (NASDAQ:MNOV - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.06). On average, analysts forecast that MediciNova will post -0.24 EPS for the current year.
Hedge Funds Weigh In On MediciNova
A number of large investors have recently added to or reduced their stakes in MNOV. Jane Street Group LLC bought a new stake in MediciNova during the 3rd quarter valued at $30,000. Millennium Management LLC lifted its position in shares of MediciNova by 26.7% in the 4th quarter. Millennium Management LLC now owns 25,923 shares of the biopharmaceutical company's stock worth $54,000 after purchasing an additional 5,470 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in MediciNova during the 4th quarter valued at approximately $78,000. SBI Securities Co. Ltd. bought a new position in shares of MediciNova in the 4th quarter worth approximately $113,000. Finally, Barclays PLC lifted its position in MediciNova by 15.5% during the fourth quarter. Barclays PLC now owns 95,600 shares of the biopharmaceutical company's stock valued at $201,000 after buying an additional 12,800 shares during the period. Hedge funds and other institutional investors own 9.90% of the company's stock.
About MediciNova
(
Get Free Report)
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.
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