StockNews.com Begins Coverage on MediciNova (NASDAQ:MNOV)

StockNews.com initiated coverage on shares of MediciNova (NASDAQ:MNOV) in a research report released on Friday morning. The firm issued a hold rating on the biopharmaceutical company’s stock.

MediciNova Trading Up 0.8 %

MNOV opened at $1.31 on Friday. MediciNova has a twelve month low of $1.26 and a twelve month high of $2.56. The firm has a market cap of $64.26 million, a price-to-earnings ratio of -7.71 and a beta of 0.72. The company has a fifty day simple moving average of $1.37 and a 200 day simple moving average of $1.40.

MediciNova (NASDAQ:MNOV) last released its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). On average, analysts forecast that MediciNova will post -0.23 earnings per share for the current fiscal year.

Institutional Trading of 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) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 19,000 shares of the biopharmaceutical company’s stock, valued at approximately $28,000. 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.