Milestone Pharmaceuticals (NASDAQ:MIST) Now Covered by Wells Fargo & Company

Key Points

• Wells Fargo & Company initiated coverage on Milestone Pharmaceuticals with an "overweight" rating and set a price target of $4.00, indicating a potential upside of 133.92%.
• HC Wainwright upgraded the stock to a "buy" rating with a $5.00 price target, while the consensus rating remains at "Hold" with an average price target of $4.50.
• Milestone Pharmaceuticals' current stock price is $1.71, with a recent quarterly earnings report showing a loss of ($0.20) EPS, missing analysts' estimates.

Wells Fargo & Company initiated coverage on shares of Milestone Pharmaceuticals (NASDAQ:MIST - Free Report) in a research note published on Thursday morning, Marketbeat reports. The brokerage issued an overweight rating and a $4.00 price target on the stock.

Separately, HC Wainwright upgraded Milestone Pharmaceuticals to a "buy" rating and set a $5.00 target price on the stock in a report on Thursday, June 5th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $4.50.

Milestone Pharmaceuticals Stock Up 2.3%

Shares of MIST traded up $0.05 during trading hours on Thursday, reaching $2.02. The stock had a trading volume of 929,597 shares, compared to its average volume of 1,678,603. Milestone Pharmaceuticals has a 12 month low of $0.63 and a 12 month high of $2.75. The firm has a 50-day simple moving average of $1.70 and a 200 day simple moving average of $1.55. The company has a current ratio of 4.97, a quick ratio of 4.97 and a debt-to-equity ratio of 4.06. The company has a market capitalization of $171.26 million, a price-to-earnings ratio of -2.40 and a beta of 0.60.

Milestone Pharmaceuticals (NASDAQ:MIST - Get Free Report) last issued 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). Equities research analysts predict that Milestone Pharmaceuticals will post -0.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Milestone Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the company. Creative Planning increased its holdings in Milestone Pharmaceuticals by 74.6% in the 2nd quarter. Creative Planning now owns 23,410 shares of the company's stock worth $45,000 after acquiring an additional 10,000 shares during the last quarter. Raymond James Financial Inc. grew its holdings in Milestone Pharmaceuticals by 30.1% during the 2nd quarter. Raymond James Financial Inc. now owns 43,235 shares of the company's stock valued at $84,000 after buying an additional 10,000 shares in the last quarter. Bay Rivers Group purchased a new position in Milestone Pharmaceuticals during the 2nd quarter valued at about $28,000. XTX Topco Ltd grew its holdings 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 in the last quarter. Finally, Northern Trust Corp grew its holdings in Milestone Pharmaceuticals by 112.6% during the 4th quarter. Northern Trust Corp now owns 58,108 shares of the company's stock valued at $137,000 after buying an additional 30,772 shares in the last quarter. Hedge funds and other institutional investors own 86.18% of the company's stock.

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.