MediciNova (NASDAQ:MNOV) Releases Earnings Results, Hits Estimates

MediciNova (NASDAQ:MNOV - Get Free Report) announced its quarterly earnings data on Wednesday. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.06), Zacks reports.

MediciNova Price Performance

Shares of NASDAQ MNOV traded up $0.06 during midday trading on Friday, hitting $1.83. 24,296 shares of the company's stock were exchanged, compared to its average volume of 20,071. The firm's fifty day simple moving average is $1.98 and its 200-day simple moving average is $1.85. The company has a market cap of $89.75 million, a PE ratio of -7.96 and a beta of 0.82. MediciNova has a twelve month low of $1.12 and a twelve month high of $2.55.

Analysts Set New Price Targets

Several brokerages have commented on MNOV. StockNews.com initiated coverage on shares of MediciNova in a research report on Wednesday. They issued a "hold" rating for the company. D. Boral Capital reaffirmed a "buy" rating and issued a $9.00 target price on shares of MediciNova in a report on Friday.

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.