MediciNova (NASDAQ:MNOV) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com began coverage on shares of MediciNova (NASDAQ:MNOV) in a research report issued to clients and investors on Tuesday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

MediciNova Stock Up 1.5 %

Shares of MNOV opened at $1.35 on Tuesday. The company has a market capitalization of $66.21 million, a price-to-earnings ratio of -7.94 and a beta of 0.70. MediciNova has a 52-week low of $1.26 and a 52-week high of $2.66. The stock has a 50 day moving average price of $1.40 and a 200 day moving average price of $1.53.

MediciNova (NASDAQ:MNOV) last announced its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.04. On average, equities analysts anticipate that MediciNova will post -0.23 EPS 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 acquired a new stake in MediciNova, Inc. (NASDAQ:MNOV) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 19,000 shares of the biopharmaceutical company’s stock, valued at approximately $28,000. Institutional investors own 9.90% of the company’s stock.

About MediciNova

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.