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

StockNews.com began coverage on shares of MediciNova (NASDAQ:MNOV) in a report published on Wednesday morning. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

MediciNova Price Performance

Shares of NASDAQ:MNOV opened at $1.66 on Wednesday. The business’s 50 day moving average price is $1.79 and its 200-day moving average price is $1.50. The firm has a market capitalization of $81.42 million, a PE ratio of -10.37 and a beta of 0.75. MediciNova has a 1 year low of $1.12 and a 1 year high of $2.16.

MediciNova (NASDAQ:MNOV) last released 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. As a group, analysts expect that MediciNova will post -0.23 earnings per share for the current 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.