Analysts Anticipate MediciNova, Inc. (NASDAQ:MNOV) to Post -$0.14 Earnings Per Share

Analysts expect MediciNova, Inc. (NASDAQ:MNOV) to announce earnings per share of ($0.14) for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for MediciNova’s earnings. MediciNova posted earnings of ($0.08) per share in the same quarter last year, which suggests a negative year-over-year growth rate of 75%. The company is expected to issue its next quarterly earnings results on Monday, July 22nd.

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

MediciNova (NASDAQ:MNOV) last issued its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.03.

MNOV has been the topic of several analyst reports. BidaskClub cut ZIX from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 7th. B. Riley reissued a “buy” rating on shares of Spark Networks in a research note on Monday, March 25th.

NASDAQ MNOV traded up $1.32 during trading hours on Friday, hitting $10.42. 431,189 shares of the company were exchanged, compared to its average volume of 96,309. The stock has a 50-day moving average price of $9.86. MediciNova has a 52 week low of $6.68 and a 52 week high of $13.37. The stock has a market capitalization of $391.85 million, a PE ratio of -28.94 and a beta of 1.20.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MNOV. Rhumbline Advisers raised its stake in 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. New York State Common Retirement Fund increased its position in shares of MediciNova by 17.2% during the 4th quarter. New York State Common Retirement Fund now owns 40,867 shares of the biopharmaceutical company’s stock valued at $334,000 after purchasing an additional 6,000 shares during the last quarter. BlackRock Inc. increased its position in shares of MediciNova by 20.9% during the 4th quarter. BlackRock Inc. now owns 2,913,245 shares of the biopharmaceutical company’s stock valued at $23,801,000 after purchasing an additional 504,452 shares during the last quarter. Geode Capital Management LLC increased its position in shares of MediciNova by 6.2% during the 4th quarter. Geode Capital Management LLC now owns 416,581 shares of the biopharmaceutical company’s stock valued at $3,403,000 after purchasing an additional 24,391 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of MediciNova by 231.3% during the 4th quarter. Bank of America Corp DE now owns 35,328 shares of the biopharmaceutical company’s stock valued at $288,000 after purchasing an additional 24,664 shares during the last quarter. 21.05% of the stock is currently owned by hedge funds and other institutional investors.

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. 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.

Featured Article: Catch-Up Contributions

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.