Propel Bio Management LLC Purchases Shares of 1,451,557 Milestone Pharmaceuticals Inc. $MIST

Key Points

• Propel Bio Management LLC acquired a new stake in Milestone Pharmaceuticals Inc., buying 1,451,557 shares valued at approximately $1,161,000, making it the fund's 13th largest holding.
• Milestone Pharmaceuticals reported a loss of ($0.20) earnings per share, missing analysts' estimates, while analysts project a future EPS of -0.62 for the current fiscal year.
• HC Wainwright upgraded Milestone Pharmaceuticals to a "buy" rating with a new price target of $5.00, reflecting a consensus outlook of "Hold" from analysts.

Propel Bio Management LLC acquired a new stake in Milestone Pharmaceuticals Inc. (NASDAQ:MIST - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 1,451,557 shares of the company's stock, valued at approximately $1,161,000. Milestone Pharmaceuticals comprises about 1.3% of Propel Bio Management LLC's investment portfolio, making the stock its 13th biggest holding. Propel Bio Management LLC owned about 2.72% of Milestone Pharmaceuticals at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Walleye Capital LLC acquired a new position in Milestone Pharmaceuticals during the 1st quarter valued at about $74,000. XTX Topco Ltd increased its stake in Milestone Pharmaceuticals by 52.7% during the 1st quarter. XTX Topco Ltd now owns 52,004 shares of the company's stock valued at $42,000 after buying an additional 17,950 shares during the period. Toronto Dominion Bank acquired a new position in Milestone Pharmaceuticals during the 4th quarter valued at about $1,770,000. Cubist Systematic Strategies LLC acquired a new position in shares of Milestone Pharmaceuticals in the 4th quarter worth approximately $73,000. Finally, Northern Trust Corp grew its stake in shares of Milestone Pharmaceuticals by 112.6% in the 4th quarter. Northern Trust Corp now owns 58,108 shares of the company's stock worth $137,000 after purchasing an additional 30,772 shares during the last quarter. 86.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright raised shares of Milestone Pharmaceuticals to a "buy" rating and set a $5.00 price objective on the stock in a research note on Thursday, June 5th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $5.00.

Milestone Pharmaceuticals Price Performance

MIST stock remained flat at $1.84 on Tuesday. 1,142,401 shares of the company were exchanged, compared to its average volume of 962,410. Milestone Pharmaceuticals Inc. has a fifty-two week low of $0.63 and a fifty-two week high of $2.75. The company has a 50 day simple moving average of $1.72 and a two-hundred day simple moving average of $1.56. The stock has a market capitalization of $156.38 million, a price-to-earnings ratio of -2.19 and a beta of 0.60. The company has a quick ratio of 4.97, a current ratio of 4.97 and a debt-to-equity ratio of 4.06.

Milestone Pharmaceuticals (NASDAQ:MIST - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.02). As a group, research analysts expect that Milestone Pharmaceuticals Inc. will post -0.62 EPS for the current fiscal year.

Milestone Pharmaceuticals Company Profile

Milestone Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of cardiovascular medicines. The company's lead product candidate is etripamil, a novel and potent calcium channel blocker, which is in Phase III clinical trial for the treatment of paroxysmal supraventricular tachycardia in the United States and Canada; and Phase II clinical trial for the treatment of atrial fibrillation and rapid ventricular rate.