Milestone Pharmaceuticals (NASDAQ:MIST) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Milestone Pharmaceuticals (NASDAQ:MIST) released its quarterly earnings data on Wednesday. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.05, Zacks reports.

Milestone Pharmaceuticals Stock Performance

NASDAQ MIST traded up $0.04 on Wednesday, reaching $1.95. 2,076,291 shares of the company’s stock traded hands, compared to its average volume of 1,619,301. Milestone Pharmaceuticals has a fifty-two week low of $0.63 and a fifty-two week high of $2.75. The firm has a market cap of $165.31 million, a price-to-earnings ratio of -2.32 and a beta of 0.54. The stock has a 50 day moving average price of $1.93 and a 200-day moving average price of $1.72.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wells Fargo & Company initiated coverage on shares of Milestone Pharmaceuticals in a report on Thursday, September 11th. They issued an “overweight” rating and a $4.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Milestone Pharmaceuticals in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $4.50.

Institutional Trading of Milestone Pharmaceuticals

A hedge fund recently raised its stake in Milestone Pharmaceuticals stock. Creative Planning lifted its position in shares of Milestone Pharmaceuticals Inc. (NASDAQ:MIST) by 74.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,410 shares of the company’s stock after acquiring an additional 10,000 shares during the quarter. Creative Planning’s holdings in Milestone Pharmaceuticals were worth $45,000 as of its most recent SEC filing. 86.18% of the stock is currently owned by institutional investors.

About Milestone Pharmaceuticals

Milestone Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of cardiovascular medicines. The company's lead product candidate is etripamil, a novel and potent calcium channel blocker, which is in Phase III clinical trial for the treatment of paroxysmal supraventricular tachycardia in the United States and Canada; and Phase II clinical trial for the treatment of atrial fibrillation and rapid ventricular rate.