Analysts Issue Forecasts for MediciNova FY2028 Earnings

MediciNova, Inc. (NASDAQ:MNOV) – Research analysts at HC Wainwright dropped their FY2028 earnings estimates for MediciNova in a report issued on Friday, August 14th. HC Wainwright analyst L. Egana-Gorrono now expects that the biopharmaceutical company will post earnings per share of $0.28 for the year, down from their prior forecast of $0.29. The consensus estimate for MediciNova’s current full-year earnings is ($0.28) per share. HC Wainwright also issued estimates for MediciNova’s FY2029 earnings at $1.87 EPS and FY2030 earnings at $3.00 EPS.

MediciNova (NASDAQ:MNOV) last released its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. MediciNova had a negative return on equity of 26.51% and a negative net margin of 1,168.70%.The company had revenue of $0.46 million for the quarter, compared to the consensus estimate of $0.07 million.

Several other brokerages have also commented on MNOV. Weiss Ratings lowered MediciNova from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 11th. D. Boral Capital reissued a “buy” rating and set a $9.00 price objective on shares of MediciNova in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.33.

MediciNova Trading Up 1.5%

Shares of MNOV opened at $1.34 on Monday. The stock has a market cap of $65.95 million, a PE ratio of -6.38 and a beta of 0.63. MediciNova has a 1 year low of $1.17 and a 1 year high of $1.96. The stock has a 50 day simple moving average of $1.34 and a 200-day simple moving average of $1.40.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. StoneX Group Inc. bought a new stake in MediciNova during the 4th quarter worth approximately $25,000. Goldman Sachs Group Inc. bought a new position in MediciNova in the 4th quarter valued at $35,000. Citadel Advisors LLC bought a new position in MediciNova in the 3rd quarter valued at $92,000. Bank of New York Mellon Corp acquired a new position in MediciNova in the second quarter worth $103,000. Finally, Jane Street Group LLC acquired a new position in MediciNova in the fourth quarter worth $214,000. 9.90% of the stock is owned by institutional investors and hedge funds.

MediciNova Company Profile

MediciNova, Inc is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel small-molecule therapeutics for neurodegenerative, inflammatory, fibrotic and oncological diseases. Founded in the late 1990s, the company advances its proprietary compounds through clinical trials and strategic partnerships, with a goal of addressing areas of high unmet medical need. MediciNova is headquartered in San Diego, California, and maintains a presence in Tokyo to support collaborations and regulatory interactions in Asian markets.

The company’s leading clinical asset, MN-166 (ibudilast), is an anti-inflammatory and neuroprotective agent originally approved in Japan for asthma and post-stroke dizziness.