Latest News

MediciNova, Inc. (NASDAQ:MNOV) Expected to Post Earnings of -$0.08 Per Share

Equities analysts predict that MediciNova, Inc. (NASDAQ:MNOV) will announce earnings per share (EPS) of ($0.08) for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for MediciNova’s earnings. The company is expected to report its next earnings report on Wednesday, February 12th.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

According to Zacks, analysts expect that MediciNova will report full-year earnings of ($0.41) per share for the current financial year, with EPS estimates ranging from ($0.48) to ($0.34). For the next fiscal year, analysts forecast that the firm will report earnings of ($0.62) per share, with EPS estimates ranging from ($0.68) to ($0.56). Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover MediciNova.

A number of research firms recently issued reports on MNOV. BidaskClub upgraded MediciNova from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 22nd. ValuEngine upgraded MediciNova from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd.

Shares of NASDAQ MNOV traded down $0.53 during midday trading on Monday, hitting $6.88. 9,359 shares of the company’s stock were exchanged, compared to its average volume of 82,370. The firm’s fifty day simple moving average is $7.69 and its 200-day simple moving average is $9.10. The company has a market cap of $334.95 million, a PE ratio of -19.11 and a beta of 1.22. MediciNova has a twelve month low of $6.68 and a twelve month high of $13.37.

Hedge funds have recently made changes to their positions in the business. Bank of Montreal Can purchased a new position in shares of MediciNova in the 2nd quarter valued at approximately $33,000. Marshall Wace LLP acquired a new position in MediciNova during the first quarter worth $54,000. Tower Research Capital LLC TRC raised its holdings in MediciNova by 72.1% during the second quarter. Tower Research Capital LLC TRC now owns 9,037 shares of the biopharmaceutical company’s stock worth $87,000 after purchasing an additional 3,785 shares during the last quarter. Susquehanna International Group LLP acquired a new position in MediciNova during the second quarter worth $167,000. Finally, Jane Street Group LLC acquired a new position in MediciNova during the second quarter worth $212,000. Institutional investors own 22.38% of the company’s stock.

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. The company is developing MN-166 (ibudilast), an oral anti-inflammatory and neuroprotective agent for treating neurological 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.

Read More: What is a capital gain?

Get a free copy of the Zacks research report on MediciNova (MNOV)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Leave a Reply

Your email address will not be published. Required fields are marked *