MediciNova (NASDAQ:MNOV) Receives New Coverage from Analysts at StockNews.com

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

MediciNova Price Performance

NASDAQ MNOV traded down $0.03 on Friday, reaching $1.13. The stock had a trading volume of 5,077 shares, compared to its average volume of 37,345. The firm has a fifty day moving average of $1.35 and a two-hundred day moving average of $1.38. MediciNova has a 1-year low of $1.12 and a 1-year high of $2.54. The company has a market cap of $55.42 million, a P/E ratio of -6.76 and a beta of 0.72.

MediciNova (NASDAQ:MNOV) last posted its quarterly 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). Research analysts predict that MediciNova will post -0.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

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 filing with the Securities and Exchange Commission (SEC). The fund 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

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.