MediciNova (MNOV) Projected to Post Earnings on Wednesday

MediciNova (NASDAQ:MNOV) is expected to be announcing its results before the market opens on Wednesday, February 18th. Analysts expect the company to announce earnings of ($0.0950) per share for the quarter.

MediciNova (NASDAQ:MNOV) last released its quarterly earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $0.12 million for the quarter. On average, analysts expect MediciNova to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

MediciNova Stock Down 5.1%

Shares of MNOV stock opened at $1.48 on Friday. The business has a 50-day moving average price of $1.52 and a two-hundred day moving average price of $1.40. The firm has a market cap of $72.74 million, a P/E ratio of -5.92 and a beta of 0.55. MediciNova has a 12-month low of $1.13 and a 12-month high of $2.04.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On MediciNova

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp grew its stake in MediciNova by 10.9% in the 4th quarter. State Street Corp now owns 193,698 shares of the biopharmaceutical company’s stock worth $254,000 after acquiring an additional 19,100 shares in the last quarter. Jane Street Group LLC purchased a new position in MediciNova during the 4th quarter worth $214,000. StoneX Group Inc. bought a new stake in MediciNova during the 4th quarter valued at $25,000. Goldman Sachs Group Inc. purchased a new stake in shares of MediciNova in the 4th quarter worth $35,000. Finally, Citadel Advisors LLC bought a new position in shares of MediciNova during the 3rd quarter worth $92,000. Institutional investors own 9.90% of the company’s stock.

About MediciNova

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.