MediciNova (NASDAQ:MNOV) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of MediciNova (NASDAQ:MNOV) in a research note released on Wednesday. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

MediciNova Stock Up 16.7 %

Shares of MNOV opened at $2.10 on Wednesday. The stock has a 50 day moving average price of $1.35 and a 200 day moving average price of $1.37. The company has a market capitalization of $103.00 million, a price-to-earnings ratio of -12.35 and a beta of 0.72. MediciNova has a 52-week low of $1.12 and a 52-week high of $2.38.

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