-$0.14 EPS Expected for MediciNova, Inc. (NASDAQ:MNOV) This Quarter

Wall Street analysts expect that MediciNova, Inc. (NASDAQ:MNOV) will report earnings per share of ($0.14) for the current quarter, Zacks reports. Zero analysts have provided estimates for MediciNova’s earnings. MediciNova posted earnings of ($0.08) per share in the same quarter last year, which indicates a negative year over year growth rate of 75%. The business is expected to issue its next earnings report on Monday, August 5th.

According to Zacks, analysts expect that MediciNova will report full year earnings of ($0.71) per share for the current year, with EPS estimates ranging from ($1.11) to ($0.48). For the next year, analysts forecast that the business will report earnings of ($0.78) per share, with EPS estimates ranging from ($1.11) to ($0.56). Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow MediciNova.

Separately, BidaskClub lowered shares of MediciNova from a “hold” rating to a “sell” rating in a report on Friday, July 19th.

Shares of MNOV traded down $0.10 during mid-day trading on Friday, reaching $9.20. The stock had a trading volume of 86,001 shares, compared to its average volume of 126,080. MediciNova has a 52-week low of $6.68 and a 52-week high of $13.37. The company has a fifty day moving average of $9.63.

Hedge funds have recently made changes to their positions in the business. Marshall Wace LLP purchased a new position in MediciNova during the first quarter worth about $54,000. BNP Paribas Arbitrage SA purchased a new position in MediciNova during the first quarter worth about $69,000. Metropolitan Life Insurance Co. NY boosted its stake in MediciNova by 373.9% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 13,041 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 10,289 shares during the period. Bank of America Corp DE boosted its stake in MediciNova by 231.3% during the fourth quarter. Bank of America Corp DE now owns 35,328 shares of the biopharmaceutical company’s stock worth $288,000 after buying an additional 24,664 shares during the period. Finally, New York State Common Retirement Fund boosted its stake in MediciNova by 17.2% during the fourth quarter. New York State Common Retirement Fund now owns 40,867 shares of the biopharmaceutical company’s stock worth $334,000 after buying an additional 6,000 shares during the period. 21.05% of the stock is owned by institutional investors.

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.

Recommended Story: Guidelines for Successful Channel Trading

Get a free copy of the Zacks research report on MediciNova (MNOV)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for MediciNova Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MediciNova and related companies with MarketBeat.com's FREE daily email newsletter.