MediciNova (NASDAQ:MNOV) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

MediciNova, Inc. (NASDAQ:MNOV)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.33 and traded as high as $1.63. MediciNova shares last traded at $1.57, with a volume of 391,120 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on MNOV shares. D. Boral Capital reaffirmed a “buy” rating and issued a $9.00 price target on shares of MediciNova in a research report on Friday, October 31st. Zacks Research upgraded MediciNova to a “hold” rating in a research note on Thursday, September 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MediciNova in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, MediciNova presently has an average rating of “Moderate Buy” and a consensus target price of $7.00.

MediciNova Stock Down 2.5%

The stock’s 50-day moving average price is $1.29 and its 200 day moving average price is $1.33. The firm has a market cap of $77.01 million, a price-to-earnings ratio of -6.28 and a beta of 0.50.

MediciNova (NASDAQ:MNOV) last released its earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. On average, research analysts predict that MediciNova, Inc. will post -0.24 EPS for the current 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.