Wells Fargo & Company Lowers Milestone Pharmaceuticals (NASDAQ:MIST) Price Target to $7.00

Milestone Pharmaceuticals (NASDAQ:MIST) had its price objective lowered by investment analysts at Wells Fargo & Company from $8.00 to $7.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 365.12% from the stock’s current price.

MIST has been the topic of a number of other reports. Wall Street Zen raised shares of Milestone Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Zacks Research downgraded shares of Milestone Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Finally, Raymond James Financial began coverage on shares of Milestone Pharmaceuticals in a research report on Friday, April 10th. They set a “strong-buy” rating and a $6.00 price objective on the stock. 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 issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $7.25.

Milestone Pharmaceuticals Stock Down 7.7%

Shares of NASDAQ MIST opened at $1.51 on Thursday. The company has a quick ratio of 7.96, a current ratio of 9.18 and a debt-to-equity ratio of 1.61. The firm’s fifty day moving average is $1.70 and its 200 day moving average is $1.93. The company has a market cap of $187.37 million, a price-to-earnings ratio of -2.21 and a beta of 1.04. Milestone Pharmaceuticals has a 52 week low of $1.00 and a 52 week high of $3.06.

Milestone Pharmaceuticals (NASDAQ:MIST) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.26). The business had revenue of $0.24 million for the quarter, compared to analyst estimates of $30.12 million. On average, equities research analysts expect that Milestone Pharmaceuticals will post -0.51 earnings per share for the current year.

Insider Buying and Selling at Milestone Pharmaceuticals

In other news, CEO Joseph Oliveto sold 36,500 shares of the company’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $2.26, for a total value of $82,490.00. Following the sale, the chief executive officer directly owned 446,244 shares of the company’s stock, valued at $1,008,511.44. This represents a 7.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 owned by corporate insiders.

Institutional Trading of Milestone Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. Creative Planning grew its stake in shares of Milestone Pharmaceuticals by 74.6% in the 2nd quarter. Creative Planning now owns 23,410 shares of the company’s stock worth $45,000 after buying an additional 10,000 shares during the last quarter. Raymond James Financial Inc. grew its stake in shares of Milestone Pharmaceuticals by 30.1% in the 2nd quarter. Raymond James Financial Inc. now owns 43,235 shares of the company’s stock worth $84,000 after buying an additional 10,000 shares during the last quarter. Bay Rivers Group grew its stake in shares of Milestone Pharmaceuticals by 72.9% in the 4th quarter. Bay Rivers Group now owns 28,861 shares of the company’s stock worth $58,000 after buying an additional 12,170 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. purchased a new stake in shares of Milestone Pharmaceuticals in the 4th quarter worth approximately $25,000. Finally, Eaton Financial Holdings Company LLC purchased a new stake in shares of Milestone Pharmaceuticals in the 4th quarter worth approximately $26,000. 86.18% of the stock is 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.