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

StockNews.com started coverage on shares of MediciNova (NASDAQ:MNOV) in a research note published on Friday. The firm issued a hold rating on the biopharmaceutical company’s stock.

MediciNova Trading Up 12.4 %

Shares of MediciNova stock opened at $1.90 on Friday. MediciNova has a 12-month low of $1.12 and a 12-month high of $2.38. The stock has a market cap of $93.19 million, a PE ratio of -11.18 and a beta of 0.72. The company has a 50-day moving average of $1.43 and a two-hundred day moving average of $1.41.

MediciNova (NASDAQ:MNOV) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. On average, sell-side analysts forecast that MediciNova will post -0.23 EPS for the current fiscal year.

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.