MediciNova (NASDAQ:MNOV) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of MediciNova, Inc. (NASDAQ:MNOV) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.49 and traded as high as $1.76. MediciNova shares last traded at $1.75, with a volume of 59,526 shares.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on MediciNova in a report on Wednesday. They set a “hold” rating on the stock.

MediciNova Trading Down 4.0 %

The business’s 50-day moving average is $1.78 and its two-hundred day moving average is $1.50. The firm has a market cap of $82.40 million, a P/E ratio of -10.50 and a beta of 0.75.

MediciNova (NASDAQ:MNOV) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.01. On average, analysts anticipate that MediciNova, Inc. will post -0.23 earnings per share for the current 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.