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

StockNews.com began coverage on shares of MediciNova (NASDAQ:MNOV – Get Rating) in a report published on Tuesday morning. The firm issued a hold rating on the biopharmaceutical company’s stock.

Separately, B. Riley reduced their price objective on MediciNova from $11.00 to $6.00 in a report on Monday, January 24th.

Shares of NASDAQ:MNOV opened at $2.49 on Tuesday. MediciNova has a 1-year low of $2.09 and a 1-year high of $5.09. The business has a fifty day moving average price of $2.67 and a 200-day moving average price of $2.70.

MediciNova (NASDAQ:MNOV – Get Rating) last issued its quarterly earnings results on Thursday, May 12th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.02. On average, sell-side analysts predict that MediciNova will post -0.27 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MNOV. Marshall Wace LLP bought a new stake in MediciNova in the 1st quarter worth about $54,000. Morgan Stanley boosted its position in MediciNova by 1,530.3% in the second quarter. Morgan Stanley now owns 58,577 shares of the biopharmaceutical company’s stock worth $249,000 after purchasing an additional 54,984 shares during the last quarter. Bank of America Corp DE boosted its position in MediciNova by 120.7% in the second quarter. Bank of America Corp DE now owns 168,763 shares of the biopharmaceutical company’s stock worth $717,000 after purchasing an additional 92,301 shares during the last quarter. BlackRock Inc. boosted its position in MediciNova by 1.6% in the third quarter. BlackRock Inc. now owns 1,145,970 shares of the biopharmaceutical company’s stock worth $4,344,000 after purchasing an additional 18,048 shares during the last quarter. Finally, Barclays PLC boosted its position in MediciNova by 52.2% in the third quarter. Barclays PLC now owns 154,016 shares of the biopharmaceutical company’s stock worth $584,000 after purchasing an additional 52,856 shares during the last quarter. Institutional investors own 15.57% of the company’s stock.

About MediciNova (Get Rating)

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. The company is developing MN-166 (ibudilast), an oral anti-inflammatory and neuroprotective agent for treating neurological 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.

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