Wells Fargo & Company Issues Pessimistic Forecast for Milestone Pharmaceuticals (NASDAQ:MIST) Stock Price

Key Points

• Wells Fargo cut its price target on Milestone Pharmaceuticals from $8.00 to $7.00 while keeping an overweight rating, even though that still implies substantial upside from the current share price.
• The company’s latest earnings were weak: Q1 EPS of -$0.20 missed estimates and revenue of $0.24 million fell far short of expectations, underscoring that CARDAMYST sales are still very early.
• Despite the disappointing results, Milestone said CARDAMYST launch momentum is building and it has a $184.2 million cash position, which it says should fund operations into the second half of 2027.

Milestone Pharmaceuticals (NASDAQ:MIST - Get Free Report) had its price objective lowered by stock analysts at Wells Fargo & Company from $8.00 to $7.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's target price would suggest a potential upside of 338.87% from the stock's previous close.

A number of other equities analysts also recently issued reports on MIST. Raymond James Financial initiated coverage on Milestone Pharmaceuticals in a research report on Friday, April 10th. They set a "strong-buy" rating and a $6.00 price target on the stock. Wall Street Zen upgraded Milestone Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, Zacks Research lowered Milestone Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $7.25.

Milestone Pharmaceuticals Stock Performance

MIST traded down $0.13 on Thursday, reaching $1.60. The stock had a trading volume of 1,126,024 shares, compared to its average volume of 2,228,470. The business's 50-day moving average price is $1.70 and its two-hundred day moving average price is $1.93. The company has a market cap of $190.83 million, a P/E ratio of -2.02 and a beta of 1.04. Milestone Pharmaceuticals has a 12-month low of $1.00 and a 12-month high of $3.06. The company has a current ratio of 8.01, a quick ratio of 7.96 and a debt-to-equity ratio of 1.37.

Milestone Pharmaceuticals (NASDAQ:MIST - Get Free Report) last posted its earnings results on Wednesday, May 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.17). The firm had revenue of $0.24 million for the quarter, compared to analyst estimates of $30.12 million. Sell-side analysts forecast that Milestone Pharmaceuticals will post -0.47 earnings per share for the current year.

Insider Buying and Selling at Milestone Pharmaceuticals

In related news, CEO Joseph Oliveto sold 36,500 shares of the firm's stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $2.26, for a total value of $82,490.00. Following the transaction, the chief executive officer directly owned 446,244 shares of the company's stock, valued at approximately $1,008,511.44. This trade represents a 7.56% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 19.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Milestone Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. Strategic Family Wealth Counselors L.L.C. purchased a new position in shares of Milestone Pharmaceuticals in the fourth quarter valued at approximately $25,000. Eaton Financial Holdings Company LLC purchased a new stake in shares of Milestone Pharmaceuticals during the fourth quarter worth approximately $26,000. Welch & Forbes LLC acquired a new position in Milestone Pharmaceuticals in the 1st quarter valued at $30,000. Bank of America Corp DE raised its stake in Milestone Pharmaceuticals by 200,550.0% in the 3rd quarter. Bank of America Corp DE now owns 16,052 shares of the company's stock valued at $32,000 after purchasing an additional 16,044 shares during the last quarter. Finally, Cetera Investment Advisers purchased a new position in Milestone Pharmaceuticals in the 4th quarter valued at $42,000. Institutional investors and hedge funds own 86.18% of the company's stock.

Milestone Pharmaceuticals News Roundup

Here are the key news stories impacting Milestone Pharmaceuticals this week:

• Positive Sentiment: Milestone said CARDAMYST launch momentum is building, with about 600 prescriptions filled, roughly 400 unique prescribers, and national formulary coverage from Express Scripts, which could support future sales growth. Article Title
• Positive Sentiment: The company also reported a strong cash position of $184.2 million, which it says should fund operations into the second half of 2027 and reduce near-term financing risk. Article Title
• Neutral Sentiment: Management will present at the H.C. Wainwright 4th Annual BioConnect Investor Conference on May 19, giving investors another update opportunity, but the event itself is unlikely to materially change fundamentals. Article Title
• Negative Sentiment: Q1 EPS of -$0.20 missed estimates, and revenue of $0.24 million fell far short of expectations, reinforcing concerns that CARDAMYST sales are still very early and not yet meaningful. Article Title
• Negative Sentiment: Commercial spending rose sharply as the company pushed the CARDAMYST launch, which may worry investors about profitability until revenue scales more quickly. Article Title

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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