Milestone Pharmaceuticals (NASDAQ:MIST) Shares Up 11.9% - Here's What Happened

Milestone Pharmaceuticals Inc. (NASDAQ:MIST - Get Free Report)'s share price rose 11.9% during trading on Monday . The stock traded as high as $2.21 and last traded at $2.17. Approximately 2,235,676 shares changed hands during mid-day trading, an increase of 133% from the average daily volume of 960,207 shares. The stock had previously closed at $1.94.

Wall Street Analysts Forecast Growth

MIST has been the topic of several research analyst reports. HC Wainwright upgraded Milestone Pharmaceuticals to a "buy" rating and set a $5.00 price objective on the stock in a research note on Thursday, June 5th. TD Cowen downgraded Milestone Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 1st. TD Securities downgraded Milestone Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Tuesday, April 1st. Finally, Cowen downgraded Milestone Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Tuesday, April 1st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $7.00.

Milestone Pharmaceuticals Trading Up 11.9%

The firm has a market cap of $116.01 million, a PE ratio of -2.78 and a beta of 0.96. The firm has a 50 day moving average of $1.57 and a 200 day moving average of $1.68. The company has a quick ratio of 4.67, a current ratio of 4.67 and a debt-to-equity ratio of 4.06.

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

Institutional Investors Weigh In On Milestone Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp lifted its position 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 worth $26,000 after acquiring an additional 10,000 shares in the last quarter. XTX Topco Ltd lifted its position in shares of Milestone Pharmaceuticals by 52.7% during the first quarter. XTX Topco Ltd now owns 52,004 shares of the company's stock worth $42,000 after acquiring an additional 17,950 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Milestone Pharmaceuticals by 163.4% during the fourth quarter. National Bank of Canada FI now owns 18,700 shares of the company's stock worth $44,000 after acquiring an additional 11,600 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Milestone Pharmaceuticals during the fourth quarter worth $73,000. Finally, Walleye Capital LLC purchased a new stake in shares of Milestone Pharmaceuticals during the first quarter worth $74,000. 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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