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

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

MediciNova Stock Performance

Shares of MediciNova stock opened at $1.31 on Tuesday. The stock has a market capitalization of $64.25 million, a P/E ratio of -7.71 and a beta of 0.72. MediciNova has a 52-week low of $1.12 and a 52-week high of $2.49. The stock’s 50-day simple moving average is $1.31 and its 200 day simple moving average is $1.36.

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.