Milestone Pharmaceuticals (NASDAQ:MIST) Issues Quarterly Earnings Results

Milestone Pharmaceuticals (NASDAQ:MIST) posted its quarterly earnings results on Wednesday. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.26), FiscalAI reports. The business had revenue of $0.24 million during the quarter, compared to analyst estimates of $30.12 million.

Here are the key takeaways from Milestone Pharmaceuticals’ conference call:

• CARDEMYST launch is off to an early start with steady prescription growth, reaching about 600 total prescriptions by the end of April and over 400 unique HCP writers for roughly 560 patients. Management said the pace is increasing month over month, with April scripts roughly matching the prior two months combined.
• Express Scripts added CARDEMYST to its national commercial formulary, which management said gives the drug coverage access to about 25% of commercially insured lives. The company views this as an early validation of the product’s clinical and economic value and expects more payer wins ahead.
• Physician reception appears broad and encouraging, with early prescriptions coming from cardiology, electrophysiology, and advanced practice providers. Management highlighted that many scripts were written after only one or two sales interactions, which they see as a sign the value proposition is resonating.
• Milestone initiated its Phase III ReVeRA-301 trial in AFib with rapid ventricular rate and expects to enroll the first patient in the second half of 2026. The company said the study is built on positive Phase II data and uses a similar self-administration approach to its PSVT program.
• The balance sheet is strong, with about $184 million in cash and investments as of March 31, 2026, enough to fund launch activities and the ReVeRA-301 study into the second half of 2027. First-quarter net loss was about $26.1 million, driven in part by higher commercial spending tied to the launch.

Milestone Pharmaceuticals Stock Performance

Shares of MIST stock traded down $0.13 on Friday, hitting $1.50. The company had a trading volume of 1,830,353 shares, compared to its average volume of 2,256,637. The firm has a market cap of $179.94 million, a P/E ratio of -2.20 and a beta of 1.04. The company has a 50-day moving average price of $1.70 and a 200-day moving average price of $1.93. The company has a quick ratio of 7.96, a current ratio of 8.01 and a debt-to-equity ratio of 1.37. Milestone Pharmaceuticals has a twelve month low of $1.00 and a twelve month high of $3.06.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MIST. Wells Fargo & Company dropped their price target on Milestone Pharmaceuticals from $8.00 to $7.00 and set an “overweight” rating on the stock in a research note on Thursday. Raymond James Financial started coverage on Milestone Pharmaceuticals in a report on Friday, April 10th. They issued a “strong-buy” rating and a $6.00 price objective for the company. Zacks Research cut Milestone Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Finally, Wall Street Zen raised Milestone Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $7.25.

Insider Activity

In other news, CEO Joseph Oliveto sold 36,500 shares of the business’s stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $2.26, for a total value of $82,490.00. Following the completion of the transaction, the chief executive officer owned 446,244 shares of the company’s stock, valued at $1,008,511.44. The trade was a 7.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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

A number of large investors have recently bought and sold shares of the business. Invesco Ltd. acquired a new position in Milestone Pharmaceuticals in the 4th quarter worth about $44,000. Engineers Gate Manager LP acquired a new position in Milestone Pharmaceuticals in the 4th quarter worth about $119,000. ADAR1 Capital Management LLC acquired a new position in Milestone Pharmaceuticals in the 4th quarter worth about $202,000. Cetera Investment Advisers acquired a new position in Milestone Pharmaceuticals in the 4th quarter worth about $42,000. Finally, Guardian Wealth Advisors LLC NC raised its holdings in Milestone Pharmaceuticals by 25.2% in the 4th quarter. Guardian Wealth Advisors LLC NC now owns 263,200 shares of the company’s stock worth $532,000 after purchasing an additional 53,000 shares during the period. Institutional investors and hedge funds own 86.18% of the company’s stock.

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.