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

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

MediciNova Stock Performance

MediciNova stock opened at $1.68 on Wednesday. MediciNova has a 12 month low of $1.12 and a 12 month high of $2.16. The stock’s 50-day moving average is $1.78 and its 200-day moving average is $1.50.

MediciNova (NASDAQ:MNOV) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. Sell-side analysts expect that MediciNova will post -0.23 EPS for the current year.

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.