The stock of Medicinova Inc (NASDAQ: MNOV) has increased by 14.98 when compared to last closing price of 2.07.Despite this, the company has seen a gain of 11.74% in its stock price over the last five trading days. globenewswire.com reported 2024-11-14 that LA JOLLA, Calif., Nov. 14, 2024 (GLOBE NEWSWIRE) — MediciNova, Inc., a biopharmaceutical company traded on the NASDAQ Global Market (NASDAQ:MNOV) and the Standard Market of the Tokyo Stock Exchange (Code Number: 4875), announces that it has received a Notice of Allowance from the U.S. Patent and Trademark Office (USPTO) for a pending patent application for MN-001 (Tipelukast) to cover “Method to Decrease Triglyceride Synthesis in a Liver of a Subject.” The allowed claims cover a groundbreaking method for decreasing triglyceride synthesis in the liver by administering MN-001 (Tipelukast) or its metabolite or pharmaceutically acceptable salt. This method is particularly beneficial for subjects diagnosed with insulin resistance, pre-diabetes, or diabetes. Once issued, this patent is expected to expire no earlier than May 26, 2042.
Is It Worth Investing in Medicinova Inc (NASDAQ: MNOV) Right Now?
The stock has a 36-month beta value of 0.84. Opinions on the stock are mixed, with 2 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for MNOV is 46.48M, and at present, short sellers hold a 0.76% of that float. On December 03, 2024, the average trading volume of MNOV was 80.73K shares.
MNOV’s Market Performance
The stock of Medicinova Inc (MNOV) has seen a 11.74% increase in the past week, with a 41.67% rise in the past month, and a 44.24% gain in the past quarter. The volatility ratio for the week is 6.86%, and the volatility levels for the past 30 days are at 9.78% for MNOV. The simple moving average for the past 20 days is 25.98% for MNOV’s stock, with a 56.52% simple moving average for the past 200 days.
Analysts’ Opinion of MNOV
Many brokerage firms have already submitted their reports for MNOV stocks, with Maxim Group repeating the rating for MNOV by listing it as a “Buy.” The predicted price for MNOV in the upcoming period, according to Maxim Group is $15 based on the research report published on March 10, 2021 of the previous year 2021.
B. Riley FBR, on the other hand, stated in their research note that they expect to see MNOV reach a price target of $22. The rating they have provided for MNOV stocks is “Buy” according to the report published on March 25th, 2019.
B. Riley FBR Inc. gave a rating of “Buy” to MNOV, setting the target price at $22 in the report published on March 28th of the previous year.
MNOV Trading at 27.29% from the 50-Day Moving Average
After a stumble in the market that brought MNOV to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -6.67% of loss for the given period.
Volatility was left at 9.78%, however, over the last 30 days, the volatility rate increased by 6.86%, as shares surge +43.37% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +25.26% upper at present.
During the last 5 trading sessions, MNOV rose by +11.74%, which changed the moving average for the period of 200-days by +76.30% in comparison to the 20-day moving average, which settled at $1.89. In addition, Medicinova Inc saw 58.67% in overturn over a single year, with a tendency to cut further gains.
Stock Fundamentals for MNOV
Current profitability levels for the company are sitting at:
- 0.01 for the present operating margin
- 1.0 for the gross margin
The net margin for Medicinova Inc stands at 2.86. The total capital return value is set at -0.0. Equity return is now at value -17.19, with -16.31 for asset returns.
Based on Medicinova Inc (MNOV), the company’s capital structure generated 0.0 points at debt to capital in total, while cash flow to debt ratio is standing at -43.13. The debt to equity ratio resting at 0.0. The interest coverage ratio of the stock is -261.96.
Currently, EBITDA for the company is -9.88 million with net debt to EBITDA at -13.35. When we switch over and look at the enterprise to sales, we see a ratio of -0.28. The liquidity ratio also appears to be rather interesting for investors as it stands at 16.66.
Conclusion
To sum up, Medicinova Inc (MNOV) has seen a better performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
