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

Posted by Jeff Wilder on Feb 5th, 2025

StockNews.com started coverage on shares of MediciNova (NASDAQ:MNOV – Free Report) in a research report released on Monday. The firm issued a hold rating on the biopharmaceutical company’s stock.

Separately, D. Boral Capital began coverage on MediciNova in a research note on Monday, December 2nd. They issued a “buy” rating and a $9.00 target price for the company.

View Our Latest Research Report on MNOV

MediciNova Stock Down 1.0 %

Shares of NASDAQ MNOV opened at $1.91 on Monday. The firm has a market cap of $93.68 million, a PE ratio of -9.09 and a beta of 0.82. The company’s fifty day simple moving average is $2.06 and its 200 day simple moving average is $1.79. MediciNova has a 12-month low of $1.12 and a 12-month high of $2.55.

Hedge Funds Weigh In On MediciNova

A number of institutional investors have recently modified their holdings of MNOV. Jane Street Group LLC acquired a new position in MediciNova during the 3rd quarter valued at about $30,000. Geode Capital Management LLC raised its stake in shares of MediciNova by 10.3% during the 3rd quarter. Geode Capital Management LLC now owns 505,966 shares of the biopharmaceutical company’s stock worth $1,063,000 after purchasing an additional 47,201 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in MediciNova in the fourth quarter valued at about $78,000. 9.90% of the stock is owned by institutional investors and hedge funds.

MediciNova Company Profile

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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.