Millennium Management LLC recently announced the acquisition of new stake in Milestone Pharmaceuticals Inc. (NASDAQ:MIST). The institutional investor has increased its shareholding in the Healthcare company by 104.08% to 1.9 million shares with purchase of 0.97 million shares. This fresh investment now brings its stake to 5.55% valued currently at $9.35 million. In addition, Lion Point Capital LP raised its holdings by 0.61 million to 1.56 million shares.
With over 0.35 million Milestone Pharmaceuticals Inc. (MIST) shares trading Tuesday and a closing price of $3.87 on the day, the dollar volume was approximately $1.34 million. The shares have shown a negative half year performance of -36.66% and its price on 01/10/23 gained nearly 4.59%. Currently, there are 42.49M common shares owned by the public and among those 33.91M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for MIST have a consensus price objective of $16.40. The analysts have set the share’s price value over the next 12 months at a high of $25.00 and a low of $10.00. The average price target is 76.4% above its recent price level and an upside to the estimated low will see the stock gain 61.3% over that period. But an upside of 84.52% will see the stock hit the forecast high price target while median target price for the stock is $16.00.
The top 3 mutual fund holders in Milestone Pharmaceuticals Inc. are LUNIS Biotech Growth Opportunitie, DFA US Small Cap Portfolio, and SPDR S&P International Small Cap. LUNIS Biotech Growth Opportunitie owns 26900.0 shares of the company’s stock, all valued at over $0.13 million. SPDR S&P International Small Cap now owns shares totaling to 0.06% of the shares outstanding.
Shares of Milestone Pharmaceuticals Inc. (NASDAQ: MIST) opened at $3.69, down -$0.01 from a prior closing price of $3.70. However, the script later moved the day high at 4.0000, up 4.59%. The company’s stock has a 5-day price change of -4.44% and -54.47% over the past three months. MIST shares are trading -2.27% year to date (YTD), with the 12-month market performance down to -45.49% lower. It has a 12-month low price of $3.39 and touched a high of $9.85 over the same period. MIST has an average intraday trading volume of 659.35K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.62%, -11.57%, and -38.44% respectively.
Institutional ownership of Milestone Pharmaceuticals Inc. (NASDAQ: MIST) shares accounts for 64.20% of the company’s 42.49M shares outstanding. Mutual fund holders own 14.01%, while other institutional holders and individual stakeholders account for 51.73% and 0.35% respectively.
It has a market capitalization of $136.46M and a beta (3y monthly) value of 2.05. The earnings-per-share (ttm) stands at -$1.47. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.87% over the week and 7.37% over the month.
Analysts forecast that Milestone Pharmaceuticals Inc. (MIST) will achieve an EPS of -$0.41 for the current quarter, -$0.39 for the next quarter and -$1.58 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.45 while analysts give the company a high EPS estimate of -$0.38. Comparatively, EPS for the current quarter was -$0.34 a year ago. Earnings per share for the fiscal year are expected to increase by 39.80%, and -9.90% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate Milestone Pharmaceuticals Inc. (MIST) as a “Strong Buy” at a consensus score of 1.60. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 0 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the MIST, a number of firms have released research notes about the stock. Piper Sandler stated their Overweight rating for the stock in a research note on April 22, 2022, with the firm’s price target at $8-$10. H.C. Wainwright coverage for the Milestone Pharmaceuticals Inc. (MIST) stock in a research note released on March 05, 2021 offered a Buy rating with a price target of $20. Jefferies on their part issued Hold rating on March 25, 2020.
