MediciNova (NASDAQ:MNOV) Coverage Initiated by Analysts at D. Boral Capital

Stock analysts at D. Boral Capital began coverage on shares of MediciNova (NASDAQ:MNOV) in a research note issued on Monday,Benzinga reports. The firm set a “buy” rating and a $9.00 price target on the biopharmaceutical company’s stock. D. Boral Capital’s price objective would indicate a potential upside of 334.78% from the company’s current price.

Separately, StockNews.com began coverage on MediciNova in a research report on Sunday. They issued a “hold” rating for the company.

MediciNova Trading Up 3.0 %

Shares of MNOV stock opened at $2.07 on Monday. The stock has a market cap of $101.53 million, a P/E ratio of -9.86 and a beta of 0.77. MediciNova has a twelve month low of $1.12 and a twelve month high of $2.55. The stock has a 50 day moving average of $1.86 and a 200 day moving average of $1.57.

Institutional Trading of MediciNova

An institutional investor recently bought a new position in MediciNova stock. Jane Street Group LLC acquired a new position in shares of MediciNova, Inc. (NASDAQ:MNOV) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,138 shares of the biopharmaceutical company’s stock, valued at approximately $30,000. 9.90% of the stock is currently owned by institutional investors.

MediciNova Company Profile

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.