Equities Analysts Issue Forecasts for MediciNova, Inc.’s Q1 2019 Earnings (MNOV)

MediciNova, Inc. (NASDAQ:MNOV) – Analysts at Zacks Investment Research issued their Q1 2019 EPS estimates for MediciNova in a report issued on Wednesday, February 20th. Zacks Investment Research analyst D. Bautz forecasts that the biopharmaceutical company will post earnings per share of ($0.14) for the quarter. Zacks Investment Research also issued estimates for MediciNova’s Q2 2019 earnings at ($0.14) EPS, Q3 2019 earnings at ($0.15) EPS and Q4 2019 earnings at ($0.15) EPS.

Separately, BidaskClub upgraded shares of MediciNova from a “sell” rating to a “hold” rating in a research report on Monday, January 7th.

Shares of MediciNova stock opened at $8.64 on Thursday. MediciNova has a 52 week low of $6.68 and a 52 week high of $14.50. The stock has a market capitalization of $361.83 million, a price-to-earnings ratio of -27.00 and a beta of 1.11.

Institutional investors have recently modified their holdings of the business. Metropolitan Life Insurance Co. NY raised its position in MediciNova by 373.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 13,041 shares of the biopharmaceutical company’s stock worth $107,000 after acquiring an additional 10,289 shares in the last quarter. Alliancebernstein L.P. bought a new stake in MediciNova in the third quarter worth about $132,000. Jane Street Group LLC raised its position in MediciNova by 72.7% in the third quarter. Jane Street Group LLC now owns 20,900 shares of the biopharmaceutical company’s stock worth $261,000 after acquiring an additional 8,800 shares in the last quarter. Bank of America Corp DE raised its position in MediciNova by 231.3% in the fourth quarter. Bank of America Corp DE now owns 35,328 shares of the biopharmaceutical company’s stock worth $288,000 after acquiring an additional 24,664 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position in MediciNova by 17.2% in the fourth quarter. New York State Common Retirement Fund now owns 40,867 shares of the biopharmaceutical company’s stock worth $334,000 after acquiring an additional 6,000 shares in the last quarter. Hedge funds and other institutional investors own 22.10% of the company’s stock.

About MediciNova

MediciNova, Inc, a biopharmaceutical company, focuses on acquiring and developing novel and small molecule therapeutics for the treatment of serious diseases with unmet medical needs in the United States. The company's product candidate includes MN-166 (ibudilast), an oral anti-inflammatory and neuroprotective agent for the treatment of neurological disorders consisting of primary and secondary progressive multiple sclerosis; amyotrophic lateral sclerosis; and substance dependence and addiction.

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