MediciNova (NASDAQ:MNOV) Issues Quarterly Earnings Results

MediciNova (NASDAQ:MNOV) issued its quarterly earnings results on Wednesday. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06), Zacks reports.

MediciNova Stock Up 2.6 %

MediciNova stock opened at $1.97 on Thursday. MediciNova has a 52 week low of $1.12 and a 52 week high of $2.55. The stock has a 50-day moving average price of $1.99 and a 200 day moving average price of $1.84.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MNOV shares. StockNews.com started coverage on MediciNova in a report on Wednesday. They set a “hold” rating for the company. D. Boral Capital started coverage on MediciNova in a report on Monday, December 2nd. They set a “buy” rating and a $9.00 target price for the company.

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.