MediciNova (NASDAQ:MNOV) Issues Earnings Results

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

MediciNova Price Performance

Shares of MNOV stock traded up $0.05 during trading hours on Friday, reaching $1.83. 18,391 shares of the company’s stock were exchanged, compared to its average volume of 24,326. The company has a market cap of $89.52 million, a P/E ratio of -7.93 and a beta of 0.82. The company’s 50 day moving average is $1.98 and its two-hundred day moving average is $1.84. MediciNova has a 1 year low of $1.12 and a 1 year high of $2.55.

Analyst Ratings Changes

A number of analysts have weighed in on the company. StockNews.com assumed coverage on MediciNova in a research report on Wednesday. They set a “hold” rating for the company. D. Boral Capital reaffirmed a “buy” rating and set a $9.00 price objective on shares of MediciNova in a research report on Friday.

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.