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

Research analysts at StockNews.com initiated coverage on shares of MediciNova (NASDAQ:MNOV - Get Free Report) in a research report issued on Thursday. The brokerage set a "hold" rating on the biopharmaceutical company's stock.

Separately, D. Boral Capital reissued a "buy" rating and set a $9.00 price target on shares of MediciNova in a research report on Friday, February 21st.

MediciNova Stock Down 2.4 %

MNOV traded down $0.04 on Thursday, reaching $1.64. 17,154 shares of the company traded hands, compared to its average volume of 23,048. The company has a market cap of $80.44 million, a P/E ratio of -7.13 and a beta of 0.82. MediciNova has a one year low of $1.12 and a one year high of $2.55. The firm has a fifty day simple moving average of $1.93 and a two-hundred day simple moving average of $1.86.

MediciNova (NASDAQ:MNOV - Get Free Report) last posted its quarterly 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). On average, equities analysts forecast that MediciNova will post -0.24 earnings per share for the current year.

Hedge Funds Weigh In On MediciNova

Large investors have recently made changes to their positions in the business. Millennium Management LLC lifted its stake in shares of 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 during the period. Geode Capital Management LLC lifted its stake in shares of MediciNova by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 514,914 shares of the biopharmaceutical company's stock valued at $1,082,000 after purchasing an additional 8,948 shares during the period. Jane Street Group LLC raised its position in shares of MediciNova by 64.5% in the fourth quarter. Jane Street Group LLC now owns 23,259 shares of the biopharmaceutical company's stock worth $49,000 after acquiring an additional 9,121 shares during the period. Barclays PLC boosted 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 purchasing an additional 12,800 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of MediciNova in the fourth quarter valued at approximately $78,000. 9.90% of the stock is owned by institutional investors and hedge funds.

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.