MediciNova’s (MNOV) Buy Rating Reiterated at D. Boral Capital

MediciNova (NASDAQ:MNOV)‘s stock had its “buy” rating restated by D. Boral Capital in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $9.00 price objective on the biopharmaceutical company’s stock.

Separately, StockNews.com began coverage on shares of MediciNova in a research note on Tuesday. They issued a “hold” rating for the company.

MediciNova Price Performance

MediciNova stock opened at $1.27 on Wednesday. MediciNova has a 1-year low of $1.12 and a 1-year high of $2.55. The company’s 50-day moving average is $1.60 and its 200 day moving average is $1.83. The firm has a market capitalization of $62.29 million, a P/E ratio of -5.52 and a beta of 0.75.

MediciNova (NASDAQ:MNOV) last issued its earnings results on Wednesday, February 19th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). Research analysts anticipate that MediciNova will post -0.24 earnings per share for the current fiscal year.

Institutional Trading of MediciNova

A number of institutional investors have recently bought and sold shares of MNOV. Jane Street Group LLC acquired a new position in shares of MediciNova in the 3rd quarter valued at $30,000. Millennium Management LLC grew its stake in MediciNova by 26.7% during the 4th quarter. Millennium Management LLC now owns 25,923 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 5,470 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of MediciNova in the fourth quarter valued at about $78,000. SBI Securities Co. Ltd. purchased a new position in shares of MediciNova in the fourth quarter worth about $113,000. Finally, Barclays PLC lifted its holdings in shares of MediciNova by 15.5% during the fourth quarter. Barclays PLC now owns 95,600 shares of the biopharmaceutical company’s stock worth $201,000 after purchasing an additional 12,800 shares during the period. 9.90% of the stock is currently 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.