FY2028 EPS Estimates for MediciNova Lowered by HC Wainwright

MediciNova, Inc. (NASDAQ:MNOV) – Investment analysts at HC Wainwright cut their FY2028 earnings per share (EPS) estimates for MediciNova in a research note issued on Friday, August 14th. HC Wainwright analyst L. Egana-Gorrono now forecasts 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 ($0.26) per share. HC Wainwright also issued estimates for MediciNova’s FY2029 earnings at $1.87 EPS and FY2030 earnings at $3.00 EPS.

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

MediciNova Trading Up 0.8%

MediciNova stock opened at $1.32 on Monday. The firm has a 50-day moving average price of $1.34 and a 200-day moving average price of $1.41. The firm has a market capitalization of $64.97 million, a PE ratio of -6.29 and a beta of 0.63. MediciNova has a 12-month low of $1.17 and a 12-month high of $1.96.

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

Institutional Trading of MediciNova

A number of hedge funds and other institutional investors have recently bought and sold shares of MNOV. Citadel Advisors LLC bought a new stake in shares of MediciNova during the third quarter worth $92,000. Goldman Sachs Group Inc. purchased a new position in MediciNova in the 4th quarter worth about $35,000. StoneX Group Inc. purchased a new position in MediciNova in the 4th quarter worth about $25,000. Jane Street Group LLC bought a new stake in MediciNova during the 4th quarter valued at about $214,000. Finally, State Street Corp lifted its holdings in MediciNova by 10.9% during the 4th quarter. State Street Corp now owns 193,698 shares of the biopharmaceutical company’s stock valued at $254,000 after buying an additional 19,100 shares in the last quarter. Hedge funds and other institutional investors own 9.90% of the company’s stock.

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.