MediciNova (NASDAQ:MNOV) Now Covered by StockNews.com

Research analysts at StockNews.com initiated coverage on shares of MediciNova (NASDAQ:MNOV) in a report released on Saturday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

MediciNova Stock Performance

Shares of MNOV stock opened at $1.91 on Friday. The stock has a 50 day moving average price of $1.49 and a 200 day moving average price of $1.43. The firm has a market capitalization of $93.68 million, a P/E ratio of -11.24 and a beta of 0.72. MediciNova has a 52-week low of $1.12 and a 52-week high of $2.38.

MediciNova (NASDAQ:MNOV) last released 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. As a group, sell-side analysts forecast that MediciNova will post -0.23 EPS 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.