StockNews.com Begins Coverage on MediciNova (NASDAQ:MNOV)

StockNews.com initiated coverage on shares of MediciNova (NASDAQ:MNOV) in a research report report published on Thursday. The firm issued a hold rating on the biopharmaceutical company’s stock.

MediciNova Stock Performance

MNOV opened at $1.82 on Thursday. MediciNova has a fifty-two week low of $1.12 and a fifty-two week high of $2.38. The firm’s fifty day moving average is $1.40 and its 200 day moving average is $1.40. The stock has a market cap of $89.27 million, a price-to-earnings ratio of -10.71 and a beta of 0.72.

MediciNova (NASDAQ:MNOV) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. On average, equities research analysts predict that MediciNova will post -0.23 earnings per share 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.