Milestone Pharmaceuticals Inc. (NASDAQ:MIST) Sees Large Drop in Short Interest

Milestone Pharmaceuticals Inc. (NASDAQ:MIST - Get Free Report) was the target of a significant decline in short interest in the month of May. As of May 15th, there was short interest totalling 1,970,000 shares, a decline of 16.9% from the April 30th total of 2,370,000 shares. Based on an average trading volume of 2,520,000 shares, the days-to-cover ratio is presently 0.8 days. Currently, 4.1% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several analysts have issued reports on MIST shares. Cowen downgraded shares of Milestone Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Tuesday, April 1st. HC Wainwright started coverage on shares of Milestone Pharmaceuticals in a research report on Thursday. They set a "buy" rating and a $5.00 price target for the company. TD Securities downgraded shares of Milestone Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Tuesday, April 1st. Finally, TD Cowen downgraded shares of Milestone Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 1st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $7.00.

Milestone Pharmaceuticals Stock Up 5.2%

Shares of MIST traded up $0.09 during midday trading on Thursday, hitting $1.74. The company had a trading volume of 511,287 shares, compared to its average volume of 912,629. The company's 50 day moving average price is $1.14 and its 200 day moving average price is $1.69. The stock has a market cap of $92.84 million, a price-to-earnings ratio of -2.14 and a beta of 0.92. Milestone Pharmaceuticals has a 52 week low of $0.63 and a 52 week high of $2.75. The company has a quick ratio of 15.40, a current ratio of 15.40 and a debt-to-equity ratio of 2.18.

Milestone Pharmaceuticals (NASDAQ:MIST - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.12). On average, equities research analysts predict that Milestone Pharmaceuticals will post -0.62 EPS for the current year.

Institutional Trading of Milestone Pharmaceuticals

A number of institutional investors have recently made changes to their positions in MIST. Toronto Dominion Bank bought a new stake in shares of Milestone Pharmaceuticals in the 4th quarter worth approximately $1,770,000. Northern Trust Corp raised 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 valued at $137,000 after acquiring an additional 30,772 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Milestone Pharmaceuticals during the fourth quarter valued at approximately $73,000. Jones Financial Companies Lllp raised its holdings in shares of Milestone Pharmaceuticals by 1,000.0% during the fourth quarter. Jones Financial Companies Lllp now owns 11,000 shares of the company's stock valued at $26,000 after acquiring an additional 10,000 shares during the period. Finally, Boxer Capital Management LLC acquired a new stake in shares of Milestone Pharmaceuticals during the fourth quarter valued at approximately $729,000. 86.18% of the stock is owned by institutional investors and hedge funds.

About Milestone Pharmaceuticals

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.