Stonepine Capital Management LLC Cuts Stake in Milestone Pharmaceuticals Inc. $MIST

Key Points

• Stonepine Capital Management LLC reduced its stake in Milestone Pharmaceuticals by 50%, lowering its holdings to 250,000 shares valued at approximately $200,000.
• Milestone Pharmaceuticals recently reported a quarterly loss of ($0.20) EPS, missing analysts' expectations of ($0.18).
• HC Wainwright upgraded Milestone Pharmaceuticals to a "buy" rating with a target price of $5.00, while the stock currently holds a consensus rating of "Hold."

Stonepine Capital Management LLC lessened its stake in shares of Milestone Pharmaceuticals Inc. (NASDAQ:MIST - Free Report) by 50.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 250,000 shares of the company's stock after selling 250,000 shares during the quarter. Stonepine Capital Management LLC owned about 0.47% of Milestone Pharmaceuticals worth $200,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Toronto Dominion Bank acquired a new position in Milestone Pharmaceuticals during the fourth quarter worth approximately $1,770,000. Boxer Capital Management LLC purchased a new stake in Milestone Pharmaceuticals during the 4th quarter valued at approximately $729,000. Walleye Capital LLC acquired a new stake in shares of Milestone Pharmaceuticals during the first quarter worth $74,000. Northern Trust Corp lifted its holdings in shares of Milestone Pharmaceuticals by 112.6% during the fourth 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 period. Finally, XTX Topco Ltd grew its position in Milestone Pharmaceuticals by 52.7% in 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 last quarter. Hedge funds and other institutional investors own 86.18% of the company's stock.

Milestone Pharmaceuticals Price Performance

Milestone Pharmaceuticals stock traded up $0.04 during midday trading on Thursday, reaching $1.81. 939,220 shares of the company were exchanged, compared to its average volume of 1,714,659. The firm's 50-day simple moving average is $1.71 and its 200-day simple moving average is $1.58. Milestone Pharmaceuticals Inc. has a 1 year low of $0.63 and a 1 year high of $2.75. The company has a market capitalization of $153.83 million, a price-to-earnings ratio of -2.15 and a beta of 0.52. The company has a debt-to-equity ratio of 4.06, a quick ratio of 4.97 and a current ratio of 4.97.

Milestone Pharmaceuticals (NASDAQ:MIST - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.02). On average, analysts anticipate that Milestone Pharmaceuticals Inc. will post -0.62 EPS for the current year.

Wall Street Analyst Weigh In

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

Milestone Pharmaceuticals 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.