FY2028 EPS Estimates for MediciNova Lowered by HC Wainwright

Key Points

• HC Wainwright lowered MediciNova’s FY2028 EPS estimate to $0.28 from $0.29, while projecting EPS of $1.87 for FY2029 and $3.00 for FY2030. The FY2028 estimate remains above the current consensus loss estimate of $0.26 per share.
• MediciNova reported a quarterly loss of $0.05 per share, beating analyst expectations for a $0.06 loss, while revenue of $0.46 million exceeded the $0.07 million estimate.
• The stock opened at $1.31, near its 52-week low, with a market capitalization of $64.48 million. Analysts’ consensus rating is “Moderate Buy”, with an average price target of $8.33.

MediciNova, Inc. (NASDAQ:MNOV - Free Report) - HC Wainwright cut their FY2028 earnings per share (EPS) estimates for MediciNova in a report issued on Friday, August 14th. HC Wainwright analyst L. Egana-Gorrono now expects that the biopharmaceutical company will post earnings of $0.28 per share for the year, down from their previous estimate of $0.29. The consensus estimate for MediciNova's current full-year earnings is ($0.26) per share. HC Wainwright also issued estimates for MediciNova's FY2029 earnings at $1.87 EPS and FY2030 earnings at $3.00 EPS.

MNOV has been the subject of several other reports. Weiss Ratings lowered MediciNova from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, August 11th. D. Boral Capital reiterated a "buy" rating and issued a $9.00 target price on shares of MediciNova in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, MediciNova has an average rating of "Moderate Buy" and a consensus target price of $8.33.

MediciNova Stock Performance

MediciNova stock opened at $1.31 on Monday. MediciNova has a 52 week low of $1.17 and a 52 week high of $1.96. The stock has a market cap of $64.48 million, a P/E ratio of -6.24 and a beta of 0.63. The stock has a 50 day moving average of $1.34 and a 200-day moving average of $1.41.

MediciNova (NASDAQ:MNOV - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.06) by $0.01. MediciNova had a negative return on equity of 26.51% and a negative net margin of 1,168.70%.The firm had revenue of $0.46 million during the quarter, compared to analyst estimates of $0.07 million.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its position in MediciNova by 10.9% in the fourth quarter. State Street Corp now owns 193,698 shares of the biopharmaceutical company's stock worth $254,000 after buying an additional 19,100 shares during the period. Jane Street Group LLC bought a new stake in MediciNova in the fourth quarter valued at $214,000. Goldman Sachs Group Inc. acquired a new position in shares of MediciNova during the fourth quarter valued at $35,000. Citadel Advisors LLC acquired a new position in shares of MediciNova during the third quarter valued at $92,000. Finally, StoneX Group Inc. bought a new position in shares of MediciNova during the fourth quarter worth about $25,000. Institutional investors and hedge funds own 9.90% of the company's stock.

MediciNova Company Profile

MediciNova, Inc is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel small-molecule therapeutics for neurodegenerative, inflammatory, fibrotic and oncological diseases. Founded in the late 1990s, the company advances its proprietary compounds through clinical trials and strategic partnerships, with a goal of addressing areas of high unmet medical need. MediciNova is headquartered in San Diego, California, and maintains a presence in Tokyo to support collaborations and regulatory interactions in Asian markets.

The company's leading clinical asset, MN-166 (ibudilast), is an anti-inflammatory and neuroprotective agent originally approved in Japan for asthma and post-stroke dizziness.

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