MediciNova (NASDAQ:MNOV) Receives "Buy" Rating from D. Boral Capital

D. Boral Capital reissued their buy rating on shares of MediciNova (NASDAQ:MNOV - Free Report) in a research note issued to investors on Friday,Benzinga reports. They currently have a $9.00 price objective on the biopharmaceutical company's stock.

Separately, StockNews.com started coverage on shares of MediciNova in a report on Wednesday, February 19th. They issued a "hold" rating on the stock.

MediciNova Stock Performance

NASDAQ MNOV traded down $0.02 during trading hours on Friday, hitting $1.74. 15,034 shares of the company traded hands, compared to its average volume of 23,940. The stock has a market capitalization of $85.34 million, a price-to-earnings ratio of -7.56 and a beta of 0.82. MediciNova has a twelve month low of $1.12 and a twelve month high of $2.55. The business's 50-day moving average is $1.97 and its 200-day moving average is $1.85.

MediciNova (NASDAQ:MNOV - Get Free Report) last released its earnings results on Wednesday, February 19th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). Analysts predict that MediciNova will post -0.24 EPS for the current year.

Institutional Investors Weigh In On MediciNova

A number of large investors have recently added to or reduced their stakes in the business. Jane Street Group LLC bought a new position in MediciNova during the third quarter worth $30,000. Millennium Management LLC boosted its holdings in shares of MediciNova by 26.7% during the 4th 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 during the period. Y Intercept Hong Kong Ltd acquired a new position in MediciNova in the 4th quarter valued at about $78,000. SBI Securities Co. Ltd. bought a new position in MediciNova in the 4th quarter valued at about $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 worth $201,000 after acquiring an additional 12,800 shares during the last quarter. Institutional investors 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.