Milestone Pharmaceuticals (NASDAQ:MIST) Coverage Initiated at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald initiated coverage of Milestone Pharmaceuticals with an “overweight” rating and a $3.00 price target, implying 177.78% upside from the prior close.
• Analyst sentiment is mixed but averages to a “Moderate Buy,” with one Strong Buy, four Buys, one Hold and one Sell; the consensus price target is $6.40.
• Milestone reported a quarterly loss of $0.21 per share versus the $0.20 expected and revenue of $0.56 million versus the $0.82 million consensus. The stock opened at $1.08, while hedge funds and institutions own 86.18% of shares.

Investment analysts at Cantor Fitzgerald began coverage on shares of Milestone Pharmaceuticals (NASDAQ:MIST - Get Free Report) in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The brokerage set an "overweight" rating and a $3.00 price target on the stock. Cantor Fitzgerald's target price would suggest a potential upside of 177.78% from the company's previous close.

Other analysts also recently issued reports about the company. Wells Fargo & Company reduced their price objective on Milestone Pharmaceuticals from $8.00 to $7.00 and set an "overweight" rating on the stock in a research report on Thursday, May 14th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Milestone Pharmaceuticals in a research report on Tuesday, July 14th. Wall Street Zen downgraded shares of Milestone Pharmaceuticals from a "hold" rating to a "strong sell" rating in a research note on Sunday, May 17th. Finally, Zacks Research upgraded shares of Milestone Pharmaceuticals from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $6.40.

Milestone Pharmaceuticals Trading Up 0.9%

Shares of MIST opened at $1.08 on Thursday. The company has a debt-to-equity ratio of 3.25, a current ratio of 8.13 and a quick ratio of 7.92. Milestone Pharmaceuticals has a 1-year low of $1.00 and a 1-year high of $3.06. The stock has a market cap of $134.46 million, a price-to-earnings ratio of -1.57 and a beta of 0.98. The firm has a 50 day simple moving average of $1.22 and a 200-day simple moving average of $1.50.

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

Hedge Funds Weigh In On Milestone Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. Orbimed Advisors LLC acquired a new position in shares of Milestone Pharmaceuticals during the 3rd quarter valued at about $6,444,000. Marshall Wace LLP lifted its holdings in shares of Milestone Pharmaceuticals by 289.8% during the 4th quarter. Marshall Wace LLP now owns 1,656,821 shares of the company's stock worth $3,347,000 after acquiring an additional 1,231,793 shares during the period. Pathstone Holdings LLC acquired a new stake in shares of Milestone Pharmaceuticals in the third quarter worth approximately $2,000,000. Two Sigma Investments LP acquired a new stake in shares of Milestone Pharmaceuticals in the third quarter worth approximately $1,333,000. Finally, Millennium Management LLC purchased a new stake in Milestone Pharmaceuticals in the third quarter valued at approximately $803,000. 86.18% of the stock is currently owned by hedge funds and other institutional investors.

About Milestone Pharmaceuticals

Milestone Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing innovative therapies for respiratory diseases. The company's research emphasizes both biologic and small-molecule approaches designed to improve mucociliary clearance, reduce airway inflammation and address chronic and refractory cough. Milestone's pipeline targets key underserved conditions such as cystic fibrosis, primary ciliary dyskinesia and severe asthma.

Milestone's lead product candidates are delivered through inhalation or systemic administration, reflecting the company's commitment to optimizing therapeutic delivery directly to the lungs.

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