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

Investment analysts at StockNews.com initiated coverage on shares of MediciNova (NASDAQ:MNOV) in a research note issued to investors on Friday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

MediciNova Stock Down 8.8 %

Shares of MediciNova stock opened at $1.83 on Friday. MediciNova has a 12-month low of $1.12 and a 12-month high of $2.55. The stock has a market capitalization of $89.52 million, a P/E ratio of -11.41 and a beta of 0.77. The stock has a 50 day moving average price of $1.83 and a two-hundred day moving average price of $1.52.

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.