MediciNova, Inc. (MNOV) Expected to Announce Earnings of -$0.14 Per Share

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Wall Street brokerages predict that MediciNova, Inc. (NASDAQ:MNOV) will announce earnings per share (EPS) of ($0.14) for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for MediciNova’s earnings. MediciNova reported earnings per share of ($0.08) during the same quarter last year, which would suggest a negative year over year growth rate of 75%. The firm is scheduled to report its next quarterly earnings results on Monday, July 22nd.

According to Zacks, analysts expect that MediciNova will report full year earnings of ($0.71) per share for the current financial year, with EPS estimates ranging from ($1.11) to ($0.48). For the next financial year, analysts forecast that the business will report earnings of ($0.78) per share, with EPS estimates ranging from ($1.11) to ($0.56). Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow MediciNova.

A number of equities analysts recently issued reports on MNOV shares. BidaskClub upgraded shares of MediciNova from a “sell” rating to a “hold” rating in a research note on Thursday, April 25th. B. Riley reiterated a “buy” rating and issued a $22.00 price target on shares of MediciNova in a research note on Monday, March 25th.

A number of institutional investors and hedge funds have recently bought and sold shares of MNOV. Vanguard Group Inc. lifted its stake in shares of MediciNova by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,584,153 shares of the biopharmaceutical company’s stock worth $19,787,000 after purchasing an additional 22,432 shares during the period. Geode Capital Management LLC lifted its stake in shares of MediciNova by 6.2% in the 4th quarter. Geode Capital Management LLC now owns 416,581 shares of the biopharmaceutical company’s stock worth $3,403,000 after purchasing an additional 24,391 shares during the period. BlackRock Inc. lifted its stake in shares of MediciNova by 1.4% in the 3rd quarter. BlackRock Inc. now owns 2,408,793 shares of the biopharmaceutical company’s stock worth $30,084,000 after purchasing an additional 33,377 shares during the period. Alps Advisors Inc. lifted its stake in shares of MediciNova by 30.6% in the 4th quarter. Alps Advisors Inc. now owns 96,784 shares of the biopharmaceutical company’s stock worth $791,000 after purchasing an additional 22,675 shares during the period. Finally, Vanguard Group Inc lifted its stake in shares of MediciNova by 1.4% in the 3rd quarter. Vanguard Group Inc now owns 1,584,153 shares of the biopharmaceutical company’s stock worth $19,787,000 after purchasing an additional 22,432 shares during the period. Institutional investors and hedge funds own 21.05% of the company’s stock.

MediciNova stock traded up $0.30 during mid-day trading on Monday, reaching $11.48. The stock had a trading volume of 66,066 shares, compared to its average volume of 147,624. The stock has a market cap of $494.33 million, a price-to-earnings ratio of -31.89 and a beta of 1.25. MediciNova has a one year low of $6.68 and a one year high of $13.37.

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. 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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