MediciNova (MNOV) Expected to Announce Quarterly Earnings on Thursday

Key Points

• MediciNova is set to release its quarterly earnings on Thursday, August 14th, with analysts expecting a loss of ($0.07) per share.
• In its previous earnings report on May 13th, MediciNova reported a loss of ($0.06) EPS, surpassing analysts' expectations by $0.08.
• Brokerage updates include a raise from "buy" to "strong-buy" from B. Riley, with a new price target of $5.00, down from $6.00.

MediciNova (NASDAQ:MNOV - Get Free Report) will likely be releasing its earnings data before the market opens on Thursday, August 14th. Analysts expect MediciNova to post earnings of ($0.07) per share for the quarter.

MediciNova (NASDAQ:MNOV - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.08. On average, analysts expect MediciNova to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

MediciNova Price Performance

Shares of NASDAQ MNOV traded down $0.02 during trading hours on Friday, hitting $1.35. 9,753 shares of the stock were exchanged, compared to its average volume of 48,687. The company's 50 day moving average is $1.32 and its 200 day moving average is $1.48. MediciNova has a one year low of $1.12 and a one year high of $2.55.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MNOV. B. Riley raised shares of MediciNova from a "buy" rating to a "strong-buy" rating and decreased their price objective for the stock from $6.00 to $5.00 in a report on Monday, June 16th. D. Boral Capital reissued a "buy" rating and issued a $9.00 price target on shares of MediciNova in a report on Thursday, July 24th. Finally, Wall Street Zen started coverage on shares of MediciNova in a report on Sunday, May 18th. They issued a "hold" rating for the company.

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. It is developing MN-166 (ibudilast), an oral anti-inflammatory and neuroprotective agent for treating neurological and other 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, as well as prevention of acute respiratory distress syndrome, and long COVID.