MediciNova (NASDAQ:MNOV) Posts Earnings Results, Beats Expectations By $0.05 EPS

by · The Markets Daily

MediciNova (NASDAQ:MNOV – Get Free Report) posted its quarterly earnings results on Wednesday. The biopharmaceutical company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05, FiscalAI reports. The company had revenue of $0.15 million during the quarter.

MediciNova Stock Down 1.5%

Shares of NASDAQ MNOV traded down $0.02 during midday trading on Friday, reaching $1.53. 12,941 shares of the company’s stock traded hands, compared to its average volume of 76,418. The company has a market cap of $75.00 million, a price-to-earnings ratio of -6.10 and a beta of 0.55. The stock’s 50 day simple moving average is $1.53 and its 200-day simple moving average is $1.41. MediciNova has a one year low of $1.13 and a one year high of $1.96.

Analyst Ratings Changes

MNOV has been the topic of a number of research analyst reports. Lucid Cap Mkts upgraded shares of MediciNova to a “strong-buy” rating in a research note on Monday, January 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MediciNova in a research note on Monday, December 29th. Finally, D. Boral Capital reissued a “buy” rating and issued a $9.00 price objective on shares of MediciNova in a research note on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, MediciNova presently has a consensus rating of “Moderate Buy” and an average target price of $7.00.

View Our Latest Stock Analysis on MNOV

Institutional Trading of MediciNova

Several hedge funds and other institutional investors have recently bought and sold shares of MNOV. Jane Street Group LLC purchased a new position in shares of MediciNova in the 4th quarter valued at $214,000. Citadel Advisors LLC bought a new stake in MediciNova during the third quarter valued at about $92,000. Goldman Sachs Group Inc. purchased a new position in MediciNova in the fourth quarter valued at about $35,000. StoneX Group Inc. bought a new position in MediciNova in the fourth quarter worth about $25,000. Finally, State Street Corp lifted its position in shares of MediciNova by 10.9% during the fourth quarter. State Street Corp now owns 193,698 shares of the biopharmaceutical company’s stock valued at $254,000 after buying an additional 19,100 shares during the last quarter. Institutional investors own 9.90% of the company’s stock.

About MediciNova

(Get Free Report)

MediciNova, Inc is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel small-molecule therapeutics for neurodegenerative, inflammatory, fibrotic and oncological diseases. Founded in the late 1990s, the company advances its proprietary compounds through clinical trials and strategic partnerships, with a goal of addressing areas of high unmet medical need. MediciNova is headquartered in San Diego, California, and maintains a presence in Tokyo to support collaborations and regulatory interactions in Asian markets.

The company’s leading clinical asset, MN-166 (ibudilast), is an anti-inflammatory and neuroprotective agent originally approved in Japan for asthma and post-stroke dizziness.

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