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

Equities research analysts at Raymond James Financial began coverage on shares of Milestone Pharmaceuticals (NASDAQ:MIST) in a report issued on Friday, MarketBeat reports. The brokerage 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 197.03% from the stock’s current price.

A number of other research firms have also issued reports on MIST. Zacks Research lowered Milestone Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. HC Wainwright restated a “buy” rating and issued a $8.00 price target on shares of Milestone Pharmaceuticals in a research report on Tuesday, January 6th. Wall Street Zen upgraded Milestone Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Wells Fargo & Company upped their price target on Milestone Pharmaceuticals from $4.00 to $8.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Finally, TD Cowen raised Milestone Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Monday, December 15th. One 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. Based on data from MarketBeat, Milestone Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $7.50.

Milestone Pharmaceuticals Price Performance

MIST stock opened at $2.02 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 8.01 and a quick ratio of 7.96. The business has a 50 day simple moving average of $1.63 and a 200-day simple moving average of $1.94. The firm has a market capitalization of $237.69 million, a PE ratio of -2.56 and a beta of 0.69. Milestone Pharmaceuticals has a 1 year low of $0.71 and a 1 year high of $3.06.

Milestone Pharmaceuticals (NASDAQ:MIST) last posted its quarterly earnings results on Friday, March 20th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. The company had revenue of $1.44 million during the quarter, compared to analysts’ expectations of $37.52 million. Equities research analysts anticipate that Milestone Pharmaceuticals will post -0.62 earnings per share for the current fiscal year.

Insider Activity at Milestone Pharmaceuticals

In other news, CEO Joseph Oliveto sold 34,523 shares of the firm’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $1.93, for a total transaction of $66,629.39. Following the completion of the transaction, the chief executive officer directly owned 482,744 shares in the company, valued at $931,695.92. This trade represents a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 70,193 shares of company stock worth $135,472 in the last ninety days. Company insiders own 19.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Sapient Capital LLC purchased a new position in shares of Milestone Pharmaceuticals during the third quarter worth $25,000. Strategic Family Wealth Counselors L.L.C. purchased a new position in shares of Milestone Pharmaceuticals during the fourth quarter worth $25,000. Eaton Financial Holdings Company LLC purchased a new position in shares of Milestone Pharmaceuticals during the fourth quarter worth $26,000. Bank of America Corp DE boosted its position in shares of Milestone Pharmaceuticals by 200,550.0% during the third quarter. Bank of America Corp DE now owns 16,052 shares of the company’s stock worth $32,000 after buying an additional 16,044 shares during the period. Finally, Stephenson & Company Inc. purchased a new position in shares of Milestone Pharmaceuticals during the third quarter worth $40,000. 86.18% of the stock is currently owned by hedge funds and other institutional investors.

About Milestone Pharmaceuticals

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.