Zacks Research Upgrades Milestone Pharmaceuticals (NASDAQ:MIST) to Hold

Milestone Pharmaceuticals (NASDAQ:MIST) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

MIST has been the subject of a number of other research reports. Wells Fargo & Company reduced their target price on Milestone Pharmaceuticals from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Thursday, May 14th. Raymond James Financial assumed coverage on shares of Milestone Pharmaceuticals in a research note on Friday, April 10th. They set a “strong-buy” rating and a $6.00 price target on the stock. Finally, Wall Street Zen downgraded shares of Milestone Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Sunday, May 17th. One 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $7.25.

Milestone Pharmaceuticals Stock Performance

Shares of MIST stock opened at $1.30 on Monday. The company has a market cap of $161.85 million, a price-to-earnings ratio of -1.91 and a beta of 0.97. The stock has a 50 day simple moving average of $1.40 and a 200-day simple moving average of $1.66. 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 9.18, a quick ratio of 9.09 and a debt-to-equity ratio of 1.61.

Milestone Pharmaceuticals (NASDAQ:MIST) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.26). The company had revenue of $0.24 million during the quarter, compared to analysts’ expectations of $30.11 million. On average, equities analysts forecast that Milestone Pharmaceuticals will post -0.97 EPS for the current year.

Insider Buying and Selling at Milestone Pharmaceuticals

In related news, CEO Joseph Oliveto sold 36,500 shares of the company’s stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $2.26, for a total value of $82,490.00. Following the sale, the chief executive officer owned 446,244 shares in the company, valued at $1,008,511.44. This represents a 7.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.03% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Milestone Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Strategic Family Wealth Counselors L.L.C. purchased a new stake in Milestone Pharmaceuticals during the fourth quarter worth $25,000. Eaton Financial Holdings Company LLC purchased a new position in shares of Milestone Pharmaceuticals in the fourth quarter valued at $26,000. Bank of America Corp DE raised its stake in shares of Milestone Pharmaceuticals by 200,550.0% during the 3rd 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 last quarter. Cetera Investment Advisers acquired a new position in shares of Milestone Pharmaceuticals during the 4th quarter worth $42,000. Finally, Invesco Ltd. purchased a new stake in shares of Milestone Pharmaceuticals in the 4th quarter worth about $44,000. 86.18% of the stock is owned by institutional investors and hedge funds.

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.