Research Analysts Issue Forecasts for MediciNova, Inc.’s Q1 2023 Earnings (NASDAQ:MNOV)

MediciNova, Inc. (NASDAQ:MNOV – Get Rating) – Analysts at Zacks Small Cap issued their Q1 2023 earnings estimates for MediciNova in a report issued on Monday, February 27th. Zacks Small Cap analyst D. Bautz expects that the biopharmaceutical company will earn ($0.07) per share for the quarter. The consensus estimate for MediciNova’s current full-year earnings is ($0.31) per share. Zacks Small Cap also issued estimates for MediciNova’s Q2 2023 earnings at ($0.07) EPS, Q3 2023 earnings at ($0.08) EPS, Q4 2023 earnings at ($0.08) EPS and FY2025 earnings at ($0.35) EPS.

Separately, StockNews.com assumed coverage on shares of MediciNova in a research report on Thursday. They set a “hold” rating on the stock.

MediciNova Stock Performance

Shares of MediciNova stock opened at $2.19 on Thursday. The company’s 50 day moving average is $2.32 and its 200 day moving average is $2.25. MediciNova has a twelve month low of $1.95 and a twelve month high of $3.18.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its stake in shares of MediciNova by 2.4% in the first quarter. JPMorgan Chase & Co. now owns 308,276 shares of the biopharmaceutical company’s stock worth $823,000 after purchasing an additional 7,110 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of MediciNova in the fourth quarter worth $549,000. Renaissance Technologies LLC increased its stake in shares of MediciNova by 7.6% in the second quarter. Renaissance Technologies LLC now owns 161,100 shares of the biopharmaceutical company’s stock worth $408,000 after purchasing an additional 11,400 shares in the last quarter. State Street Corp increased its stake in shares of MediciNova by 7.1% in the first quarter. State Street Corp now owns 142,298 shares of the biopharmaceutical company’s stock worth $380,000 after purchasing an additional 9,449 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of MediciNova by 14.5% in the fourth quarter. Bank of America Corp DE now owns 177,259 shares of the biopharmaceutical company’s stock worth $363,000 after purchasing an additional 22,508 shares in the last quarter. 25.18% of the stock is currently owned by institutional investors.

About MediciNova

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MediciNova, Inc is a biopharmaceutical company, which engages in the acquisition and development of small molecule therapeutics for the treatment of diseases with unmet medical needs. Its development pipeline consists of clinical-stage compounds for the treatment of acute exacerbations of asthma and COPD, progressive multiple sclerosis, methamphetamine addiction, neuropathic pain, asthma, interstitial cystitis, and solid tumor cancers.