Milestone Pharmaceuticals Inc. (NASDAQ:MIST) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Analyst sentiment is moderately positive: Seven brokerages give Milestone Pharmaceuticals a consensus “Moderate Buy” rating, with an average 12-month price target of $6.40.
• The stock remains under pressure: MIST opened at $0.92, near its 52-week low of $0.88, while the company reported a quarterly loss of $0.21 per share and revenue of $0.56 million, both slightly below expectations.
• Institutional ownership is substantial: Hedge funds and other institutions own 86.18% of the company, with several investors increasing their positions or initiating new stakes during the second quarter.

Shares of Milestone Pharmaceuticals Inc. (NASDAQ:MIST - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $6.40.

Several brokerages recently issued reports on MIST. Zacks Research raised shares of Milestone Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. Cantor Fitzgerald assumed coverage on Milestone Pharmaceuticals in a report on Thursday, August 20th. They set an "overweight" rating and a $3.00 target price on the stock. Weiss Ratings restated a "sell (e+)" rating on shares of Milestone Pharmaceuticals in a research report on Tuesday, July 14th. Finally, HC Wainwright reaffirmed a "buy" rating on shares of Milestone Pharmaceuticals in a report on Thursday, September 3rd.

Milestone Pharmaceuticals Stock Performance

Shares of MIST opened at $0.92 on Monday. Milestone Pharmaceuticals has a 52-week low of $0.88 and a 52-week high of $3.06. The company has a quick ratio of 7.92, a current ratio of 8.13 and a debt-to-equity ratio of 3.25. The firm's fifty day moving average is $1.13 and its two-hundred day moving average is $1.39. The stock has a market cap of $114.02 million, a PE ratio of -1.33 and a beta of 0.98.

Milestone Pharmaceuticals (NASDAQ:MIST - Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.01). The firm had revenue of $0.56 million for the quarter, compared to analyst estimates of $0.82 million. Research analysts forecast that Milestone Pharmaceuticals will post -0.84 earnings per share for the current fiscal year.

Institutional Trading of Milestone Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. HighTower Advisors LLC boosted its position in shares of Milestone Pharmaceuticals by 100.0% during the 2nd quarter. HighTower Advisors LLC now owns 20,000 shares of the company's stock valued at $27,000 after acquiring an additional 10,000 shares during the last quarter. Guardian Wealth Advisors LLC NC increased its position in Milestone Pharmaceuticals by 21.1% during the second quarter. Guardian Wealth Advisors LLC NC now owns 339,450 shares of the company's stock worth $455,000 after purchasing an additional 59,200 shares during the last quarter. ADAR1 Capital Management LLC acquired a new stake in Milestone Pharmaceuticals during the second quarter worth about $134,000. TRU Independence Asset Management 2 LLC purchased a new position in Milestone Pharmaceuticals during the second quarter worth about $201,000. Finally, Bay Rivers Group raised its stake in Milestone Pharmaceuticals by 55.9% during the second quarter. Bay Rivers Group now owns 46,633 shares of the company's stock worth $62,000 after purchasing an additional 16,722 shares during the period. 86.18% of the stock is owned by institutional investors and hedge funds.

About Milestone Pharmaceuticals

Milestone Pharmaceuticals Inc is a biopharmaceutical company focused on developing therapies for cardiovascular conditions. The company's lead product is etripamil, a short-acting, non-dihydropyridine calcium channel blocker formulated as a self-administered nasal spray.

Etripamil has been developed primarily for the rapid treatment of paroxysmal supraventricular tachycardia (PSVT), a form of abnormally fast heart rhythm that can begin and end suddenly. Milestone has also evaluated the therapy in other cardiovascular applications, including the potential treatment of angina and related conditions.

Founded in 2012, Milestone is headquartered in Montreal, Quebec, and has conducted clinical development activities in North America.

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