Zacks: Analysts Anticipate MediciNova, Inc. (NASDAQ:MNOV) to Post -$0.09 EPS

Analysts expect MediciNova, Inc. (NASDAQ:MNOV) to post earnings per share of ($0.09) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for MediciNova’s earnings. The highest EPS estimate is ($0.08) and the lowest is ($0.09). MediciNova reported earnings per share of ($0.10) during the same quarter last year, which would indicate a positive year over year growth rate of 10%. The company is expected to announce its next earnings report on Tuesday, July 27th.

According to Zacks, analysts expect that MediciNova will report full-year earnings of ($0.31) per share for the current financial year, with EPS estimates ranging from ($0.34) to ($0.27). For the next fiscal year, analysts anticipate that the company will report earnings of ($0.26) per share, with EPS estimates ranging from ($0.41) to $0.00. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that cover MediciNova.

MediciNova stock traded down $0.06 during midday trading on Thursday, reaching $3.92. 2,974 shares of the stock traded hands, compared to its average volume of 756,124. The stock has a fifty day moving average price of $4.05. The firm has a market cap of $191.18 million, a price-to-earnings ratio of -15.56 and a beta of 1.40. MediciNova has a fifty-two week low of $3.48 and a fifty-two week high of $13.25.

Institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its stake in MediciNova by 11.2% during the 4th quarter. Bank of New York Mellon Corp now owns 243,233 shares of the biopharmaceutical company’s stock valued at $1,280,000 after purchasing an additional 24,444 shares during the period. BlackRock Inc. boosted its stake in MediciNova by 16.6% during the 4th quarter. BlackRock Inc. now owns 3,313,971 shares of the biopharmaceutical company’s stock valued at $17,433,000 after purchasing an additional 471,747 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of MediciNova by 173.1% in the 4th quarter. JPMorgan Chase & Co. now owns 113,000 shares of the biopharmaceutical company’s stock worth $595,000 after acquiring an additional 71,618 shares during the period. XTX Topco Ltd acquired a new stake in shares of MediciNova in the 1st quarter worth approximately $61,000. Finally, Credit Suisse AG acquired a new stake in shares of MediciNova in the 4th quarter worth approximately $65,000. 23.15% of the stock is owned by hedge funds and other institutional investors.

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. The company is developing MN-166 (ibudilast), an oral anti-inflammatory and neuroprotective agent for treating neurological 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.

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