MediciNova (NASDAQ:MNOV) Shares Pass Above 200-Day Moving Average of $1.42

MediciNova, Inc. (NASDAQ:MNOV) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.42 and traded as high as $1.99. MediciNova shares last traded at $1.91, with a volume of 11,634 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on MediciNova in a research note on Saturday. They set a “hold” rating on the stock.

MediciNova Trading Up 1.1 %

The stock has a market cap of $93.68 million, a price-to-earnings ratio of -11.24 and a beta of 0.72. The company has a 50 day simple moving average of $1.49 and a 200-day simple moving average of $1.43.

MediciNova (NASDAQ:MNOV) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. Equities analysts forecast that MediciNova, Inc. will post -0.23 earnings per share for the current fiscal year.

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.