Brokerages predict that MediciNova, Inc. (NASDAQ:MNOV) will post ($0.15) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Zero analysts have issued estimates for MediciNova’s earnings. MediciNova reported earnings per share of ($0.16) during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.3%. The business is scheduled to announce its next quarterly 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 year, analysts expect that the business will report earnings of ($0.78) per share, with EPS estimates ranging from ($1.11) to ($0.56). Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that follow MediciNova.
MediciNova (NASDAQ:MNOV) last released its quarterly earnings data on Thursday, July 25th. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.05.
Several equities research analysts recently issued reports on the stock. ValuEngine raised shares of MediciNova from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. BidaskClub lowered shares of MediciNova from a “sell” rating to a “strong sell” rating in a research report on Friday, August 16th.
A number of institutional investors have recently added to or reduced their stakes in the business. Susquehanna International Group LLP acquired a new position in MediciNova during the 2nd quarter worth $167,000. Jane Street Group LLC bought a new position in shares of MediciNova during the 2nd quarter worth about $212,000. Citadel Advisors LLC bought a new position in shares of MediciNova during the 2nd quarter worth about $364,000. D. E. Shaw & Co. Inc. increased its holdings in shares of MediciNova by 31.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 397,226 shares of the biopharmaceutical company’s stock worth $3,805,000 after purchasing an additional 95,146 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of MediciNova by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 1,664,525 shares of the biopharmaceutical company’s stock worth $16,029,000 after purchasing an additional 16,021 shares during the period. 22.32% of the stock is owned by hedge funds and other institutional investors.
Shares of MNOV stock traded up $0.14 on Friday, hitting $7.50. The company’s stock had a trading volume of 2,615 shares, compared to its average volume of 66,050. MediciNova has a fifty-two week low of $6.68 and a fifty-two week high of $13.37. The firm’s fifty day moving average price is $8.23 and its 200-day moving average price is $9.53. The stock has a market capitalization of $326.07 million, a price-to-earnings ratio of -20.89 and a beta of 1.25.
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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