MediciNova (MNOV) to Release 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) is anticipated to announce its earnings results before the market opens on Thursday, August 14th. Analysts expect the company to announce earnings of ($0.07) per share for the quarter.

MediciNova (NASDAQ:MNOV - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.06) EPS for the quarter, beating analysts' consensus estimates 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 Stock Performance

NASDAQ:MNOV opened at $1.36 on Thursday. MediciNova has a 52 week low of $1.12 and a 52 week high of $2.55. The firm's fifty day moving average is $1.32 and its 200-day moving average is $1.49. The firm has a market cap of $66.70 million, a P/E ratio of -5.91 and a beta of 0.35.

Analyst Upgrades and Downgrades

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

MediciNova Company Profile

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.

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