Equities researchers at StockNews.com began coverage on shares of MediciNova (NASDAQ:MNOV - Get Free Report) in a note issued to investors on Saturday. The brokerage set a "hold" rating on the biopharmaceutical company's stock.
MediciNova Price Performance
Shares of NASDAQ:MNOV opened at $2.13 on Friday. MediciNova has a 1-year low of $1.12 and a 1-year high of $2.55. The company has a market capitalization of $104.48 million, a P/E ratio of -10.14 and a beta of 0.77. The firm's 50 day simple moving average is $1.82 and its two-hundred day simple moving average is $1.54.
Institutional Investors Weigh In On MediciNova
An institutional investor recently raised its position in MediciNova stock. Geode Capital Management LLC raised its position in shares of MediciNova, Inc. (NASDAQ:MNOV - Free Report) by 10.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 505,966 shares of the biopharmaceutical company's stock after acquiring an additional 47,201 shares during the period. Geode Capital Management LLC owned approximately 1.03% of MediciNova worth $1,063,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 9.90% of the company's stock.
MediciNova Company Profile
(
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.
See Also
Before you consider MediciNova, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MediciNova wasn't on the list.
While MediciNova currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Click the link below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
