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

Analysts at StockNews.com initiated coverage on shares of MediciNova (NASDAQ:MNOV) in a research note issued on Friday. The brokerage set 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 issued a “buy” rating and a $9.00 price target on the stock.

MediciNova Price Performance

NASDAQ:MNOV opened at $1.96 on Friday. The company has a market cap of $96.13 million, a price-to-earnings ratio of -9.33 and a beta of 0.84. MediciNova has a 1 year low of $1.12 and a 1 year high of $2.55. The stock’s 50 day simple moving average is $2.03 and its two-hundred day simple moving average is $1.73.

Institutional Investors Weigh In On MediciNova

A hedge fund recently bought a new stake in MediciNova stock. Jane Street Group LLC purchased a new position in MediciNova, Inc. (NASDAQ:MNOV) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,138 shares of the biopharmaceutical company’s stock, valued at approximately $30,000. 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.