MediciNova (NASDAQ:MNOV) Issues Earnings Results

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

MediciNova Trading Up 2.6 %

Shares of MNOV traded up $0.05 during midday trading on Wednesday, reaching $1.97. 22,537 shares of the company were exchanged, compared to its average volume of 23,829. The stock has a 50-day moving average price of $2.00 and a 200-day moving average price of $1.83. The company has a market cap of $96.63 million, a price-to-earnings ratio of -9.38 and a beta of 0.82. MediciNova has a 1-year low of $1.12 and a 1-year high of $2.55.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. D. Boral Capital assumed coverage on MediciNova in a research report on Monday, December 2nd. They set a “buy” rating and a $9.00 price target for the company. StockNews.com started coverage on MediciNova in a research note on Wednesday. They set a “hold” rating on the stock.

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.