On Tuesday, H.C. Wainwright reaffirmed its Buy rating on Milestone Pharmaceuticals (NASDAQ:MIST), maintaining a $25.00 price target. The firm's endorsement follows a recent educational event hosted by Milestone, which focused on the management of paroxysmal supraventricular tachycardia (PSVT) in the community setting. During the event, key opinion leaders discussed the condition, current treatments, and the anticipated evolution of the treatment landscape.
The discussion highlighted Milestone's leading therapeutic candidate, CARDAMYST (etripamil) nasal spray. This novel calcium channel blocker is designed for patients to self-administer during acute symptomatic episodes of PSVT without the need for medical supervision. According to H.C. Wainwright, the real-world data surrounding CARDAMYST underscores its potential as a primary, on-hand treatment for PSVT attacks.
The firm believes that the PSVT market dynamics are conducive to the early success and substantial growth potential of CARDAMYST. This optimism is based on the sizable and addressable U.S. population that could benefit from the treatment, should it receive approval. H.C. Wainwright's stance suggests that the investment community currently undervalues the prospects of CARDAMYST and its market opportunities.
In summarizing the firm's position, the analyst stated that the potential for CARDAMYST to serve as a first-line treatment for acute PSVT episodes is supported by real-world data.
Additionally, the analyst emphasized the significant expansion potential within the PSVT market, which could contribute to Milestone's early success upon the approval of CARDAMYST. The reiteration of the Buy rating and the $25 price target on Milestone Pharmaceuticals underscores H.C. Wainwright's confidence in the company's future performance.
InvestingPro Insights
As Milestone Pharmaceuticals (NASDAQ:MIST) advances its lead product, CARDAMYST, and seeks to redefine the management of PSVT, investors are closely monitoring the company's financial health and market performance. InvestingPro data reveals a market capitalization of $88.65 million, reflecting the company's current valuation in the market. Despite the potential of CARDAMYST, analysts have noted concerns, as Milestone has not been profitable over the last twelve months and does not pay a dividend to shareholders, indicating a reinvestment of earnings into research and development rather than shareholder returns.
InvestingPro Tips suggest that while Milestone holds more cash than debt, which is a positive sign for its financial stability, it is also quickly burning through cash, which could be a cause for concern regarding its long-term sustainability. Additionally, two analysts have revised their earnings upwards for the upcoming period, hinting at a potentially brighter future should the company manage to capitalize on its developments and manage its resources effectively.
With the company's stock price movements being quite volatile, investors should consider the risks associated with such fluctuations. It's worth noting that there are many more InvestingPro Tips available, which could provide further insight into Milestone's financials and projections. For those interested in a deeper analysis, use coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription at https://www.investing.com/pro/MIST.
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