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

StockNews.com initiated coverage on shares of MediciNova (NASDAQ:MNOV) in a research report released on Tuesday morning. The firm issued a hold rating on the biopharmaceutical company’s stock.

MediciNova Stock Down 5.8 %

Shares of MNOV opened at $1.63 on Tuesday. The firm has a market capitalization of $79.95 million, a PE ratio of -10.19 and a beta of 0.75. The firm has a 50-day moving average price of $1.75 and a 200 day moving average price of $1.49. MediciNova has a 52-week low of $1.12 and a 52-week high of $2.16.

MediciNova (NASDAQ:MNOV) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.01. On average, equities analysts expect that MediciNova will post -0.23 EPS for the current year.

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.