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

Investment analysts at StockNews.com started coverage on shares of MediciNova (NASDAQ:MNOV) in a note issued to investors on Tuesday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

MediciNova Stock Performance

Shares of NASDAQ:MNOV opened at $1.78 on Tuesday. The business’s 50-day simple moving average is $1.70 and its 200 day simple moving average is $1.49. The company has a market cap of $87.30 million, a P/E ratio of -10.47 and a beta of 0.75. MediciNova has a one year low of $1.12 and a one year high of $2.16.

MediciNova (NASDAQ:MNOV) last posted its quarterly earnings data 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. Analysts predict 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.