MediciNova (MNOV) Upgraded by ValuEngine to “Hold”

ValuEngine upgraded shares of MediciNova (NASDAQ:MNOV) from a sell rating to a hold rating in a research note released on Wednesday.

Separately, BidaskClub downgraded MediciNova from a buy rating to a hold rating in a research note on Saturday, January 20th.

MediciNova (MNOV) opened at $9.45 on Wednesday. MediciNova has a 12 month low of $4.40 and a 12 month high of $11.45.

Several hedge funds have recently made changes to their positions in MNOV. Alps Advisors Inc. purchased a new position in shares of MediciNova in the 4th quarter valued at approximately $259,000. Northern Trust Corp grew its stake in shares of MediciNova by 10.6% in the 2nd quarter. Northern Trust Corp now owns 368,599 shares of the biopharmaceutical company’s stock valued at $1,939,000 after purchasing an additional 35,331 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of MediciNova by 1,645.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 29,002 shares of the biopharmaceutical company’s stock valued at $187,000 after purchasing an additional 27,340 shares during the last quarter. State Street Corp grew its stake in shares of MediciNova by 5.7% in the 2nd quarter. State Street Corp now owns 467,451 shares of the biopharmaceutical company’s stock valued at $2,458,000 after purchasing an additional 25,118 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of MediciNova by 75.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 47,656 shares of the biopharmaceutical company’s stock valued at $251,000 after purchasing an additional 20,567 shares during the last quarter. Institutional investors own 21.97% of the company’s stock.

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About MediciNova

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).

To view ValuEngine’s full report, visit ValuEngine’s official website.

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