MediciNova (NASDAQ:MNOV) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of MediciNova (NASDAQ:MNOV) in a research note issued to investors on Thursday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

MediciNova Trading Down 2.5 %

Shares of NASDAQ:MNOV opened at $1.53 on Thursday. The company has a 50-day moving average price of $1.81 and a two-hundred day moving average price of $1.50. MediciNova has a twelve month low of $1.12 and a twelve month high of $2.16.

MediciNova (NASDAQ:MNOV) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01. As a group, sell-side analysts anticipate that MediciNova will post -0.23 EPS for the current fiscal year.

About MediciNova

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.