MediciNova (NASDAQ:MNOV) Posts Quarterly Earnings Results, Hits Estimates

MediciNova (NASDAQ:MNOV) released its quarterly earnings data 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 Trading Up 2.8 %

Shares of NASDAQ MNOV traded up $0.05 during trading hours on Friday, reaching $1.83. The stock had a trading volume of 18,391 shares, compared to its average volume of 24,326. The firm has a market cap of $89.52 million, a price-to-earnings ratio of -7.93 and a beta of 0.82. MediciNova has a fifty-two week low of $1.12 and a fifty-two week high of $2.55. The firm has a 50-day moving average of $1.98 and a 200-day moving average of $1.84.

Analysts Set New Price Targets

Several research analysts have recently issued reports 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 reissued a “buy” rating and issued a $9.00 target price 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.