MediciNova (NASDAQ:MNOV) Releases Quarterly Earnings Results, Meets Estimates

MediciNova (NASDAQ:MNOV) issued its quarterly earnings results on Wednesday. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06), Zacks reports.

MediciNova Price Performance

MNOV stock traded up $0.05 during trading on Wednesday, hitting $1.97. 22,537 shares of the stock traded hands, compared to its average volume of 23,829. MediciNova has a 1 year low of $1.12 and a 1 year high of $2.55. The firm’s 50 day moving average is $2.00 and its two-hundred day moving average is $1.83. The stock has a market cap of $96.63 million, a price-to-earnings ratio of -9.38 and a beta of 0.82.

Wall Street Analysts Forecast Growth

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

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.