Milestone Pharmaceuticals Inc. (NASDAQ:MIST) Stock Has Average Price Target of $6.40

Milestone Pharmaceuticals Inc. (NASDAQ:MIST) has received an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $6.40.

A number of research firms have commented on MIST. Zacks Research upgraded shares of Milestone Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. HC Wainwright reaffirmed a “buy” rating on shares of Milestone Pharmaceuticals in a research note on Thursday, September 3rd. Cantor Fitzgerald started coverage on shares of Milestone Pharmaceuticals in a report on Thursday, August 20th. They set an “overweight” rating and a $3.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Milestone Pharmaceuticals in a report on Monday, October 12th.

Milestone Pharmaceuticals Price Performance

Shares of NASDAQ:MIST opened at $0.71 on Friday. Milestone Pharmaceuticals has a 52 week low of $0.70 and a 52 week high of $3.06. The company has a debt-to-equity ratio of 3.25, a quick ratio of 7.92 and a current ratio of 8.13. The company’s fifty day moving average is $0.98 and its 200-day moving average is $1.29. The company has a market capitalization of $88.06 million, a PE ratio of -1.03 and a beta of 1.01.

Milestone Pharmaceuticals (NASDAQ:MIST) last posted its earnings results on Wednesday, August 12th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The firm had revenue of $0.56 million for the quarter, compared to analyst estimates of $0.82 million. Equities research analysts predict that Milestone Pharmaceuticals will post -0.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of MIST. HighTower Advisors LLC increased its holdings in Milestone Pharmaceuticals by 100.0% during the 2nd quarter. HighTower Advisors LLC now owns 20,000 shares of the company’s stock valued at $27,000 after purchasing an additional 10,000 shares in the last quarter. Welch & Forbes LLC bought a new position in Milestone Pharmaceuticals in the 1st quarter valued at $30,000. Bay Rivers Group raised its position in Milestone Pharmaceuticals by 55.9% in the 2nd quarter. Bay Rivers Group now owns 46,633 shares of the company’s stock valued at $62,000 after purchasing an additional 16,722 shares during the last quarter. TRU Independence Asset Management 2 LLC bought a new position in Milestone Pharmaceuticals in the 4th quarter valued at $202,000. Finally, ADAR1 Capital Management LLC acquired a new position in Milestone Pharmaceuticals in the second quarter worth $134,000. 86.18% of the stock is owned by institutional investors and hedge funds.

About Milestone Pharmaceuticals

Milestone Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing therapies for cardiovascular conditions. The company’s lead product candidate is etripamil, a short-acting calcium channel blocker formulated as a nasal spray and designed for rapid, patient-administered treatment.

Etripamil has been studied primarily for paroxysmal supraventricular tachycardia (PSVT), a condition characterized by episodes of abnormally rapid heart rate. The product is intended to provide patients with an option for treating episodes outside of a hospital or clinic, potentially reducing the need for emergency medical intervention.