StockNews.com Initiates Coverage on MediciNova (NASDAQ:MNOV)

StockNews.com started coverage on shares of MediciNova (NASDAQ:MNOV) in a research report issued on Sunday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

MediciNova Trading Up 0.5 %

Shares of MediciNova stock opened at $1.99 on Friday. The stock has a market capitalization of $97.60 million, a P/E ratio of -11.71 and a beta of 0.75. The business’s fifty day moving average price is $1.57 and its 200 day moving average price is $1.46. MediciNova has a twelve month low of $1.12 and a twelve month high of $2.16.

MediciNova (NASDAQ:MNOV) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. As a group, sell-side analysts predict that MediciNova will post -0.23 EPS for the current year.

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.