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

StockNews.com began coverage on shares of MediciNova (NASDAQ:MNOV) in a research note issued to investors on Saturday morning. The firm issued a hold rating on the biopharmaceutical company’s stock.

Separately, D. Boral Capital began coverage on shares of MediciNova in a research report on Monday, December 2nd. They set a “buy” rating and a $9.00 price target on the stock.

MediciNova Trading Down 2.1 %

Shares of NASDAQ MNOV opened at $1.83 on Friday. The firm has a market cap of $89.76 million, a PE ratio of -8.71 and a beta of 0.84. MediciNova has a 1-year low of $1.12 and a 1-year high of $2.55. The company has a fifty day moving average price of $2.06 and a 200 day moving average price of $1.75.

Hedge Funds Weigh In On MediciNova

A hedge fund recently raised its stake in MediciNova stock. Geode Capital Management LLC lifted its holdings in shares of MediciNova, Inc. (NASDAQ:MNOV) by 10.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 505,966 shares of the biopharmaceutical company’s stock after acquiring an additional 47,201 shares during the quarter. Geode Capital Management LLC owned approximately 1.03% of MediciNova worth $1,063,000 as of its most recent SEC filing. 9.90% of the stock is owned by institutional investors and hedge funds.

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.