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

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

MediciNova Trading Down 1.2 %

Shares of MNOV stock opened at $1.66 on Wednesday. The company has a market cap of $81.42 million, a price-to-earnings ratio of -10.37 and a beta of 0.75. The stock has a 50 day simple moving average of $1.79 and a 200-day simple moving average of $1.50. MediciNova has a 12-month low of $1.12 and a 12-month high of $2.16.

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