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

StockNews.com assumed coverage on shares of MediciNova (NASDAQ:MNOV - Free Report) in a research note issued to investors on Sunday morning. The firm issued a hold rating on the biopharmaceutical company's stock.

Separately, D. Boral Capital reiterated a "buy" rating and issued a $9.00 price objective on shares of MediciNova in a report on Friday, March 14th.

MediciNova Price Performance

NASDAQ MNOV remained flat at $1.47 during mid-day trading on Friday. The company had a trading volume of 11,110 shares, compared to its average volume of 41,174. The stock's fifty day moving average is $1.75 and its 200 day moving average is $1.88. The company has a market capitalization of $72.10 million, a PE ratio of -6.39 and a beta of 0.73. MediciNova has a 1 year low of $1.12 and a 1 year high of $2.55.

MediciNova (NASDAQ:MNOV - Get Free Report) last issued its earnings results on Wednesday, February 19th. The biopharmaceutical company reported ($0.06) EPS for the quarter, meeting analysts' consensus estimates of ($0.06). On average, sell-side analysts anticipate that MediciNova will post -0.24 earnings per share for the current year.

Institutional Investors Weigh In On MediciNova

Several institutional investors have recently added to or reduced their stakes in MNOV. Jane Street Group LLC acquired a new stake in MediciNova during the third quarter worth approximately $30,000. Millennium Management LLC grew 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 valued at $54,000 after buying an additional 5,470 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in MediciNova during the 4th quarter worth $78,000. SBI Securities Co. Ltd. purchased a new stake in MediciNova in the fourth quarter valued at $113,000. Finally, Barclays PLC lifted its position in MediciNova by 15.5% in the fourth quarter. Barclays PLC now owns 95,600 shares of the biopharmaceutical company's stock valued at $201,000 after acquiring an additional 12,800 shares during the last quarter. 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.