MediciNova (NASDAQ:MNOV) Given Buy Rating at D. Boral Capital

MediciNova (NASDAQ:MNOV - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at D. Boral Capital in a research note issued on Wednesday,Benzinga reports. They currently have a $9.00 price target on the biopharmaceutical company's stock.

Separately, StockNews.com began coverage on MediciNova in a research report on Tuesday, April 8th. They set a "hold" rating on the stock.

MediciNova Stock Up 1.4 %

NASDAQ:MNOV traded up $0.02 during trading hours on Wednesday, reaching $1.40. The company had a trading volume of 15,626 shares, compared to its average volume of 38,867. MediciNova has a twelve month low of $1.12 and a twelve month high of $2.55. The firm has a market cap of $68.66 million, a price-to-earnings ratio of -6.09 and a beta of 0.75. The business's 50-day simple moving average is $1.59 and its two-hundred day simple moving average is $1.83.

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 the consensus estimate of ($0.06). As a group, equities analysts predict that MediciNova will post -0.24 earnings per share for the current year.

Institutional Investors Weigh In On MediciNova

A number of institutional investors and hedge funds have recently made changes to their positions in MNOV. Jane Street Group LLC bought a new stake in MediciNova during the 3rd quarter worth approximately $30,000. Millennium Management LLC grew its holdings in MediciNova by 26.7% during the fourth quarter. Millennium Management LLC now owns 25,923 shares of the biopharmaceutical company's stock worth $54,000 after buying an additional 5,470 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in MediciNova in the 4th quarter valued at $78,000. SBI Securities Co. Ltd. bought a new position in MediciNova during the 4th quarter valued at $113,000. Finally, Barclays PLC boosted its holdings in MediciNova by 15.5% during the 4th quarter. Barclays PLC now owns 95,600 shares of the biopharmaceutical company's stock worth $201,000 after acquiring an additional 12,800 shares during the last quarter. 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.