Brokerages Anticipate MediciNova, Inc. (NASDAQ:MNOV) Will Announce Earnings of -$0.15 Per Share

Wall Street brokerages expect MediciNova, Inc. (NASDAQ:MNOV) to post earnings of ($0.15) per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have made estimates for MediciNova’s earnings. MediciNova reported earnings of ($0.16) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.3%. The firm is scheduled to report its next earnings results on Thursday, October 24th.

According to Zacks, analysts expect that MediciNova will report full year earnings of ($0.49) per share for the current year, with EPS estimates ranging from ($0.50) to ($0.48). For the next financial year, analysts anticipate that the business will report earnings of ($0.62) per share, with EPS estimates ranging from ($0.68) to ($0.56). Zacks’ earnings per share calculations are an average based on a survey of analysts that cover MediciNova.

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

MNOV opened at $7.52 on Friday. MediciNova has a fifty-two week low of $6.68 and a fifty-two week high of $13.37. The firm’s fifty day moving average is $7.86 and its 200 day moving average is $9.41. The stock has a market cap of $379.81 million, a price-to-earnings ratio of -20.89 and a beta of 1.25.

A number of hedge funds have recently made changes to their positions in MNOV. Bank of Montreal Can purchased a new stake in MediciNova in the 2nd quarter worth $33,000. Marshall Wace LLP purchased a new stake in MediciNova in the 1st quarter worth $54,000. Tower Research Capital LLC TRC lifted its stake in MediciNova by 72.1% in the 2nd 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 in the last quarter. Susquehanna International Group LLP purchased a new stake in MediciNova in the 2nd quarter worth $167,000. Finally, Jane Street Group LLC purchased a new stake in MediciNova in the 2nd quarter worth $212,000. Institutional investors and hedge funds own 22.32% of the company’s stock.

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. 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.

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