MediciNova (NASDAQ:MNOV) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Shares of MNOV opened at $11.12 on Friday. The firm has a market cap of $523.07 million, a price-to-earnings ratio of -34.75 and a beta of 0.31. MediciNova has a twelve month low of $5.81 and a twelve month high of $14.50.

MediciNova (NASDAQ:MNOV) last announced its quarterly earnings results on Monday, July 23rd. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.04. As a group, equities research analysts expect that MediciNova will post -0.44 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of MNOV. BlackRock Inc. lifted its position in shares of MediciNova by 25.8% in the 1st quarter. BlackRock Inc. now owns 2,153,139 shares of the biopharmaceutical company’s stock worth $22,005,000 after purchasing an additional 441,945 shares during the period. Wexford Capital LP purchased a new stake in shares of MediciNova in the 1st quarter worth about $1,278,000. Jane Street Group LLC purchased a new stake in shares of MediciNova in the 1st quarter worth about $974,000. American Century Companies Inc. purchased a new stake in shares of MediciNova in the 2nd quarter worth about $567,000. Finally, Northern Trust Corp lifted its position in shares of MediciNova by 12.2% in the 1st quarter. Northern Trust Corp now owns 416,579 shares of the biopharmaceutical company’s stock worth $4,258,000 after purchasing an additional 45,255 shares during the period. 21.52% of the stock is owned by hedge funds and other institutional investors.

MediciNova Company Profile

MediciNova, Inc, a biopharmaceutical company, focuses on acquiring and developing novel and small molecule therapeutics for the treatment of serious diseases with unmet medical needs in the United States. The company's product candidate includes MN-166 (ibudilast), an oral anti-inflammatory and neuroprotective agent for the treatment of neurological disorders consisting of primary and secondary progressive multiple sclerosis; amyotrophic lateral sclerosis; and substance dependence and addiction.

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