Milestone Pharmaceuticals (NASDAQ:MIST) Downgraded by Wall Street Zen to Sell

Key Points

• Wall Street Zen downgraded Milestone Pharmaceuticals (MIST) from a "hold" to a "sell", while the consensus rating remains "Hold" with an average price target of $4.50.
• Shares opened at $2.41 and trade within a 52‑week range of $0.63–$3.06; the company has a market cap of about $205M, a negative P/E (-2.94), and recently beat quarterly EPS estimates ($-0.12 vs. -0.17).
• Institutional ownership is 86.18%, and several hedge funds materially increased or initiated positions in Q3, including Propel Bio Management, OrbiMed Advisors, and Simplify Asset Management.

Milestone Pharmaceuticals (NASDAQ:MIST - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

A number of other research firms have also recently weighed in on MIST. Wells Fargo & Company began coverage on shares of Milestone Pharmaceuticals in a research note on Thursday, September 11th. They issued an "overweight" rating and a $4.00 price target on the stock. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Milestone Pharmaceuticals in a research note on Monday, December 1st. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Milestone Pharmaceuticals has a consensus rating of "Hold" and an average price target of $4.50.

Milestone Pharmaceuticals Price Performance

Milestone Pharmaceuticals stock opened at $2.41 on Friday. The company has a fifty day simple moving average of $2.18 and a 200-day simple moving average of $1.91. The company has a quick ratio of 8.24, a current ratio of 8.24 and a debt-to-equity ratio of 2.74. The firm has a market capitalization of $205.26 million, a price-to-earnings ratio of -2.94 and a beta of 0.41. Milestone Pharmaceuticals has a 52-week low of $0.63 and a 52-week high of $3.06.

Milestone Pharmaceuticals (NASDAQ:MIST - Get Free Report) last issued its earnings results on Wednesday, November 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.17) by $0.05. On average, equities analysts anticipate that Milestone Pharmaceuticals will post -0.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Milestone Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. Propel Bio Management LLC boosted its holdings in shares of Milestone Pharmaceuticals by 186.1% in the third quarter. Propel Bio Management LLC now owns 5,124,890 shares of the company's stock valued at $10,250,000 after acquiring an additional 3,333,333 shares during the period. Orbimed Advisors LLC purchased a new stake in Milestone Pharmaceuticals in the 3rd quarter valued at $6,444,000. Simplify Asset Management Inc. boosted its stake in Milestone Pharmaceuticals by 186.2% during the 3rd quarter. Simplify Asset Management Inc. now owns 2,832,974 shares of the company's stock worth $5,666,000 after purchasing an additional 1,842,974 shares during the period. Pathstone Holdings LLC purchased a new position in Milestone Pharmaceuticals during the 3rd quarter worth $2,000,000. Finally, Boxer Capital Management LLC acquired a new position in Milestone Pharmaceuticals in the third quarter valued at $1,333,000. 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.

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