FY2022 EPS Estimates for MediciNova, Inc. Raised by Analyst (NASDAQ:MNOV)

MediciNova, Inc. (NASDAQ:MNOV – Get Rating) – Investment analysts at Zacks Investment Research lifted their FY2022 earnings per share (EPS) estimates for shares of MediciNova in a report issued on Wednesday, May 25th. Zacks Investment Research analyst D. Bautz now expects that the biopharmaceutical company will earn ($0.33) per share for the year, up from their prior forecast of ($0.34).

MediciNova (NASDAQ:MNOV – Get Rating) last issued its earnings results on Thursday, May 12th. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.02.

Separately, StockNews.com initiated coverage on shares of MediciNova in a research note on Tuesday. They set a “hold” rating on the stock.

Shares of MNOV stock opened at $2.47 on Friday. MediciNova has a 12-month low of $2.09 and a 12-month high of $5.09. The firm’s 50 day moving average is $2.67 and its 200 day moving average is $2.70.

Institutional investors have recently bought and sold shares of the company. Marshall Wace LLP purchased a new position in shares of MediciNova during the 1st quarter worth about $54,000. Morgan Stanley boosted its stake in shares of MediciNova by 1,530.3% during the 2nd quarter. Morgan Stanley now owns 58,577 shares of the biopharmaceutical company’s stock worth $249,000 after purchasing an additional 54,984 shares during the period. Bank of America Corp DE boosted its stake in shares of MediciNova by 120.7% during the 2nd quarter. Bank of America Corp DE now owns 168,763 shares of the biopharmaceutical company’s stock worth $717,000 after purchasing an additional 92,301 shares during the period. BlackRock Inc. boosted its stake in shares of MediciNova by 1.6% during the 3rd quarter. BlackRock Inc. now owns 1,145,970 shares of the biopharmaceutical company’s stock worth $4,344,000 after purchasing an additional 18,048 shares during the period. Finally, Barclays PLC boosted its stake in shares of MediciNova by 52.2% during the 3rd quarter. Barclays PLC now owns 154,016 shares of the biopharmaceutical company’s stock worth $584,000 after purchasing an additional 52,856 shares during the period. Hedge funds and other institutional investors own 15.57% of the company’s stock.

About MediciNova (Get Rating)

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.

Further Reading

• Get a free copy of the StockNews.com research report on MediciNova (MNOV)
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