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

Stock analysts at StockNews.com assumed coverage on shares of MediciNova (NASDAQ:MNOV) in a research note issued on Tuesday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

Separately, D. Boral Capital assumed coverage on MediciNova in a report on Monday, December 2nd. They set a “buy” rating and a $9.00 price objective for the company.

MediciNova Stock Up 0.5 %

MNOV opened at $2.11 on Tuesday. The stock has a fifty day moving average of $1.92 and a 200-day moving average of $1.63. The firm has a market capitalization of $103.49 million, a P/E ratio of -10.05 and a beta of 0.84. MediciNova has a 12-month low of $1.12 and a 12-month high of $2.55.

Hedge Funds Weigh In On MediciNova

A hedge fund recently raised its stake in MediciNova stock. Geode Capital Management LLC grew its holdings in MediciNova, Inc. (NASDAQ:MNOV) by 10.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 505,966 shares of the biopharmaceutical company’s stock after purchasing an additional 47,201 shares during the quarter. Geode Capital Management LLC owned about 1.03% of MediciNova worth $1,063,000 as of its most recent filing with the SEC. Hedge funds and other 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.