MediciNova (NASDAQ:MNOV) Coverage Initiated at StockNews.com

Posted by Stacy Sanders on Jun 17th, 2024

Stock analysts at StockNews.com began coverage on shares of MediciNova (NASDAQ:MNOV – Get Free Report) in a research note issued to investors on Sunday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

MediciNova Price Performance

NASDAQ:MNOV opened at $1.33 on Friday. The company has a fifty day simple moving average of $1.39 and a two-hundred day simple moving average of $1.44. The company has a market cap of $65.24 million, a price-to-earnings ratio of -7.82 and a beta of 0.70. MediciNova has a 52 week low of $1.26 and a 52 week high of $2.66.

MediciNova (NASDAQ:MNOV – Get Free Report) last issued its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). On average, analysts expect that MediciNova will post -0.23 EPS for the current year.

Institutional Investors Weigh In On MediciNova

An institutional investor recently bought a new position in MediciNova stock. Bank Julius Baer & Co. Ltd Zurich bought a new stake in MediciNova, Inc. (NASDAQ:MNOV – Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 19,000 shares of the biopharmaceutical company’s stock, valued at approximately $28,000. 9.90% of the stock is owned by hedge funds and other institutional investors.

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.