MediciNova (NASDAQ:MNOV) Announces Earnings Results

MediciNova (NASDAQ:MNOV) posted its earnings results on Wednesday. The biopharmaceutical company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06), Zacks reports.

MediciNova Price Performance

MNOV stock traded up $0.05 during trading on Wednesday, reaching $1.97. 22,537 shares of the stock traded hands, compared to its average volume of 23,829. The business’s 50 day moving average price is $2.00 and its 200-day moving average price is $1.83. MediciNova has a 52-week low of $1.12 and a 52-week high of $2.55. The firm has a market capitalization of $96.63 million, a PE ratio of -9.38 and a beta of 0.82.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MNOV shares. D. Boral Capital started coverage on MediciNova in a research report on Monday, December 2nd. They issued a “buy” rating and a $9.00 price objective on the stock. StockNews.com began coverage on shares of MediciNova in a report on Wednesday. They issued a “hold” rating for the company.

MediciNova Company Profile

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.