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

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

On average, analysts expect that MediciNova will report full year earnings of ($0.70) per share for the current financial year, with EPS estimates ranging from ($1.11) to ($0.48). For the next fiscal year, analysts forecast that the business will post earnings of ($0.78) per share, with EPS estimates ranging from ($1.11) to ($0.56). Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover MediciNova.

Separately, BidaskClub downgraded shares of MediciNova from a “sell” rating to a “strong sell” rating in a report on Friday, August 16th.

Shares of NASDAQ:MNOV opened at $8.22 on Monday. The firm’s 50 day simple moving average is $9.23 and its 200 day simple moving average is $9.60. MediciNova has a fifty-two week low of $6.68 and a fifty-two week high of $13.37.

A number of hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its holdings in MediciNova by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 154,456 shares of the biopharmaceutical company’s stock worth $1,487,000 after buying an additional 1,227 shares during the period. Bank of Montreal Can bought a new position in shares of MediciNova during the 2nd quarter worth approximately $33,000. Tower Research Capital LLC TRC grew its stake in shares of MediciNova by 72.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,037 shares of the biopharmaceutical company’s stock worth $87,000 after acquiring an additional 3,785 shares in the last quarter. Alps Advisors Inc. grew its stake in shares of MediciNova by 5.2% during the 1st quarter. Alps Advisors Inc. now owns 101,861 shares of the biopharmaceutical company’s stock worth $843,000 after acquiring an additional 5,077 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of MediciNova by 6.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 96,107 shares of the biopharmaceutical company’s stock worth $926,000 after acquiring an additional 5,870 shares in the last quarter. Hedge funds and other institutional investors own 21.69% 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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