MediciNova (MNOV) Expected to Announce Quarterly Earnings on Wednesday

MediciNova (NASDAQ:MNOV) is expected to be announcing its results after the market closes on Wednesday, May 13th. Analysts expect the company to announce earnings of ($0.06) per share and revenue of $0.1280 million for the quarter.

MediciNova (NASDAQ:MNOV) last released its earnings results on Friday, February 20th. The biopharmaceutical company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. The firm had revenue of $0.15 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 Trading Up 0.7%

NASDAQ MNOV opened at $1.41 on Wednesday. MediciNova has a 12 month low of $1.17 and a 12 month high of $1.96. The stock has a market cap of $69.40 million, a price-to-earnings ratio of -5.87 and a beta of 0.63. The company’s 50 day moving average is $1.42 and its two-hundred day moving average is $1.46.

Institutional Investors Weigh In On MediciNova

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MNOV shares. Maxim Group restated a “buy” rating and set a $6.00 target price on shares of MediciNova in a research note on Monday, March 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of MediciNova in a research note on Friday, March 27th. Zacks Research upgraded shares of MediciNova to a “hold” rating in a research note on Tuesday, March 17th. HC Wainwright assumed coverage on shares of MediciNova in a research note on Monday, March 16th. They set a “buy” rating and a $10.00 target price on the stock. Finally, D. Boral Capital reaffirmed a “buy” rating and set a $9.00 price objective on shares of MediciNova in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $7.50.

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.