-$0.14 Earnings Per Share Expected for MediciNova, Inc. (MNOV) This Quarter

Equities analysts predict that MediciNova, Inc. (NASDAQ:MNOV) will post earnings per share of ($0.14) for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for MediciNova’s earnings. MediciNova reported earnings per share of ($0.08) during the same quarter last year, which would indicate a negative year over year growth rate of 75%. The company is expected to announce its next quarterly earnings results on Monday, July 22nd.

According to Zacks, analysts expect that MediciNova will report full-year earnings of ($0.70) per share for the current year, with EPS estimates ranging from ($1.11) to ($0.45). For the next fiscal year, analysts forecast that the firm will report earnings of ($0.77) per share, with EPS estimates ranging from ($1.11) to ($0.56). Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for MediciNova.

A number of equities analysts have issued reports on the company. BidaskClub raised MediciNova from a “hold” rating to a “buy” rating in a research note on Tuesday, May 14th. B. Riley reaffirmed a “buy” rating and set a $22.00 price target on shares of MediciNova in a research note on Monday, March 25th.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MNOV. BlackRock Inc. lifted its position in MediciNova by 1.4% during the third quarter. BlackRock Inc. now owns 2,408,793 shares of the biopharmaceutical company’s stock worth $30,084,000 after acquiring an additional 33,377 shares during the last quarter. MetLife Investment Advisors LLC lifted its position in MediciNova by 55.2% during the third quarter. MetLife Investment Advisors LLC now owns 28,927 shares of the biopharmaceutical company’s stock worth $361,000 after acquiring an additional 10,289 shares during the last quarter. Vanguard Group Inc. lifted its position in MediciNova by 1.4% during the third quarter. Vanguard Group Inc. now owns 1,584,153 shares of the biopharmaceutical company’s stock worth $19,787,000 after acquiring an additional 22,432 shares during the last quarter. Vanguard Group Inc lifted its position in MediciNova by 1.4% during the third quarter. Vanguard Group Inc now owns 1,584,153 shares of the biopharmaceutical company’s stock worth $19,787,000 after acquiring an additional 22,432 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of MediciNova by 48.6% during the fourth quarter. Rhumbline Advisers now owns 52,878 shares of the biopharmaceutical company’s stock worth $432,000 after purchasing an additional 17,285 shares during the period. 21.19% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ MNOV opened at $11.48 on Monday. The firm has a market cap of $473.67 million, a price-to-earnings ratio of -31.89 and a beta of 1.25. MediciNova has a 1 year low of $6.68 and a 1 year high of $13.37.

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. 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.

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