MediciNova (NASDAQ:MNOV) Coverage Initiated by Analysts at StockNews.com

Analysts at StockNews.com began coverage on shares of MediciNova (NASDAQ:MNOV) in a research report issued to clients and investors on Thursday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

MediciNova Trading Down 3.1 %

Shares of NASDAQ MNOV opened at $1.56 on Thursday. The stock’s 50-day moving average is $1.81 and its 200 day moving average is $1.50. The stock has a market cap of $76.52 million, a price-to-earnings ratio of -9.75 and a beta of 0.77. MediciNova has a 1-year low of $1.12 and a 1-year high of $2.16.

MediciNova (NASDAQ:MNOV) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.01. On average, 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.