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

Posted by Jessica Moore on Jan 21st, 2025

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

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

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MediciNova Price Performance

NASDAQ MNOV opened at $1.83 on Friday. The company has a fifty day moving average price of $2.07 and a 200-day moving average price of $1.75. MediciNova has a 1 year low of $1.12 and a 1 year high of $2.55. The firm has a market cap of $89.76 million, a price-to-earnings ratio of -8.71 and a beta of 0.84.

Institutional Investors Weigh In On MediciNova

A hedge fund recently raised its stake in MediciNova stock. Geode Capital Management LLC boosted its stake in shares of MediciNova, Inc. (NASDAQ:MNOV – Free Report) by 10.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 505,966 shares of the biopharmaceutical company’s stock after buying 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. Hedge funds and other institutional investors own 9.90% of the company’s stock.

MediciNova Company Profile

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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.