Raymond James Financial Initiates Coverage on Milestone Pharmaceuticals (NASDAQ:MIST)

Key Points

• Raymond James initiated coverage with a strong-buy rating and a $6 price target (implying ~198.5% upside); analysts remain mixed but the consensus is a "Moderate Buy" with an average target of $7.50.
• Shares jumped about 12.9% to open at $2.01, giving Milestone a market cap of roughly $236.5 million and a 52-week range of $0.69–$3.06.
• Milestone slightly beat EPS estimates (‑$0.16 vs. ‑$0.18) but reported revenue of $1.44M well below expectations; insiders have been selling recently (CEO sold 34,523 shares) while institutional investors own about 86.2% of the stock.

Research analysts at Raymond James Financial began coverage on shares of Milestone Pharmaceuticals (NASDAQ:MIST - Get Free Report) in a report issued on Friday. The firm set a "strong-buy" rating and a $6.00 price target on the stock. Raymond James Financial's price target would suggest a potential upside of 198.51% from the company's current price.

A number of other equities analysts also recently issued reports on the company. Zacks Research downgraded Milestone Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 24th. TD Cowen upgraded Milestone Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Monday, December 15th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Milestone Pharmaceuticals in a research report on Monday, December 29th. Wells Fargo & Company increased their price target on Milestone Pharmaceuticals from $4.00 to $8.00 and gave the company an "overweight" rating in a research note on Tuesday, December 16th. Finally, Wall Street Zen upgraded Milestone Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday, March 28th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $7.50.

Milestone Pharmaceuticals Stock Up 12.9%

Shares of Milestone Pharmaceuticals stock opened at $2.01 on Friday. The company has a quick ratio of 7.96, a current ratio of 8.01 and a debt-to-equity ratio of 1.37. The company has a market cap of $236.52 million, a P/E ratio of -2.54 and a beta of 0.69. The firm's 50 day moving average price is $1.62 and its 200-day moving average price is $1.94. Milestone Pharmaceuticals has a 52-week low of $0.69 and a 52-week high of $3.06.

Milestone Pharmaceuticals (NASDAQ:MIST - Get Free Report) last posted its earnings results on Friday, March 20th. The company reported ($0.16) EPS for the quarter, beating analysts' consensus estimates of ($0.18) by $0.02. The firm had revenue of $1.44 million for the quarter, compared to analysts' expectations of $37.52 million. On average, sell-side analysts predict that Milestone Pharmaceuticals will post -0.62 EPS for the current fiscal year.

Insider Buying and Selling at Milestone Pharmaceuticals

In other news, CEO Joseph Oliveto sold 34,523 shares of the business's stock in a transaction on Monday, January 26th. The shares were sold at an average price of $1.93, for a total transaction of $66,629.39. Following the sale, the chief executive officer directly owned 482,744 shares of the company's stock, valued at $931,695.92. The trade was a 6.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 70,193 shares of company stock worth $135,472 over the last 90 days. 19.50% of the stock is owned by insiders.

Institutional Trading of Milestone Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. TRU Independence Asset Management 2 LLC acquired a new position in shares of Milestone Pharmaceuticals in the fourth quarter valued at about $202,000. Invesco Ltd. acquired a new stake in shares of Milestone Pharmaceuticals during the fourth quarter worth about $44,000. Engineers Gate Manager LP acquired a new stake in shares of Milestone Pharmaceuticals during the fourth quarter worth about $119,000. ADAR1 Capital Management LLC purchased a new stake in Milestone Pharmaceuticals in the fourth quarter valued at approximately $202,000. Finally, Cetera Investment Advisers purchased a new stake in Milestone Pharmaceuticals in the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 86.18% of the company's stock.

Milestone Pharmaceuticals Company Profile

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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