MediciNova (NASDAQ:MNOV) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

MediciNova, Inc. (NASDAQ:MNOV)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.33 and traded as high as $1.63. MediciNova shares last traded at $1.57, with a volume of 391,120 shares traded.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of MediciNova in a research report on Wednesday, November 5th. D. Boral Capital reaffirmed a “buy” rating and set a $9.00 price objective on shares of MediciNova in a report on Friday, October 31st. Finally, Zacks Research raised MediciNova to a “hold” rating in a report on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $7.00.

MediciNova Stock Down 2.5%

The stock has a market capitalization of $77.01 million, a price-to-earnings ratio of -6.28 and a beta of 0.50. The stock’s 50-day simple moving average is $1.29 and its 200 day simple moving average is $1.33.

MediciNova (NASDAQ:MNOV) last posted its quarterly earnings data on Wednesday, November 12th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. As a group, equities research analysts anticipate that MediciNova, Inc. will post -0.24 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.