MediciNova (NASDAQ:MNOV) Now Covered by Analysts at StockNews.com

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

MediciNova Price Performance

Shares of NASDAQ:MNOV opened at $1.33 on Tuesday. MediciNova has a one year low of $1.26 and a one year high of $2.66. The company has a market cap of $65.24 million, a price-to-earnings ratio of -7.82 and a beta of 0.70. The firm has a 50 day simple moving average of $1.40 and a 200 day simple moving average of $1.53.

MediciNova (NASDAQ:MNOV) last released its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.04. As a group, analysts expect that MediciNova will post -0.23 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in MediciNova stock. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of MediciNova, Inc. (NASDAQ:MNOV) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 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.