Credit Suisse Group AG Initiates Coverage on MediciNova, Inc. (MNOV)

Credit Suisse Group AG initiated coverage on shares of MediciNova, Inc. (NASDAQ:MNOV) in a research note released on Tuesday, April 18th. The brokerage issued an outperform rating on the biopharmaceutical company’s stock.

Shares of MediciNova (NASDAQ:MNOV) traded down 1.43% during midday trading on Tuesday, hitting $5.52. 21,488 shares of the company traded hands. MediciNova has a 52 week low of $4.85 and a 52 week high of $8.00. The stock’s market capitalization is $190.66 million. The company has a 50-day moving average price of $5.62 and a 200-day moving average price of $6.24.

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In other news, Director Yutaka Kobayashi purchased 24,000 shares of the stock in a transaction that occurred on Friday, May 12th. The shares were purchased at an average cost of $5.62 per share, with a total value of $134,880.00. Following the completion of the acquisition, the director now owns 81,800 shares of the company’s stock, valued at approximately $459,716. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 15.60% of the company’s stock.

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).

5 Day Chart for NASDAQ:MNOV

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