MediciNova (MNOV) Upgraded to “Buy” at BidaskClub

MediciNova (NASDAQ:MNOV) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

MediciNova (MNOV) opened at $7.33 on Wednesday. The firm has a market cap of $264.62, a P/E ratio of -22.91 and a beta of 0.04. MediciNova has a 52-week low of $4.40 and a 52-week high of $7.85.

Institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC bought a new position in MediciNova during the third quarter valued at approximately $118,000. Voya Investment Management LLC raised its position in MediciNova by 22.9% during the second quarter. Voya Investment Management LLC now owns 19,341 shares of the biopharmaceutical company’s stock valued at $102,000 after acquiring an additional 3,603 shares in the last quarter. State of Wisconsin Investment Board bought a new position in MediciNova during the second quarter valued at approximately $137,000. Wells Fargo & Company MN raised its position in MediciNova by 63.3% during the third quarter. Wells Fargo & Company MN now owns 32,575 shares of the biopharmaceutical company’s stock valued at $208,000 after acquiring an additional 12,624 shares in the last quarter. Finally, Rhumbline Advisers raised its position in MediciNova by 11.9% during the second quarter. Rhumbline Advisers now owns 36,273 shares of the biopharmaceutical company’s stock valued at $191,000 after acquiring an additional 3,865 shares in the last quarter. 21.93% of the stock is currently owned by hedge funds and other institutional investors.

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MediciNova Company Profile

Medicinova, Inc is a biopharmaceutical company. The Company focuses on acquiring and developing small molecule therapeutics for the treatment of diseases with unmet medical needs and a commercial focus on the United States market. Its pipeline includes MN-166 (ibudilast), MN-001 (tipelukast), MN-221 (bedoradrine) and MN-029 (denibulin).

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