Milestone Pharmaceuticals’ (NASDAQ:MIST) quiet period will expire on Tuesday, June 18th. Milestone Pharmaceuticals had issued 5,500,000 shares in its IPO on May 9th. The total size of the offering was $82,500,000 based on an initial share price of $15.00. During the company’s quiet period, insiders and any underwriters involved in the IPO are restricted from issuing any research reports for the company because of SEC regulations. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
Several analysts have recently commented on the company. CIBC assumed coverage on Milestone Pharmaceuticals in a report on Tuesday, June 4th. They set an “outperform” rating and a $32.00 target price on the stock. Oppenheimer assumed coverage on Milestone Pharmaceuticals in a report on Tuesday, June 4th. They issued an “outperform” rating and a $32.00 price target on the stock. Piper Jaffray Companies assumed coverage on Milestone Pharmaceuticals in a report on Monday, June 3rd. They issued an “overweight” rating and a $26.50 price target on the stock. Cowen assumed coverage on Milestone Pharmaceuticals in a report on Monday, June 3rd. They issued an “outperform” rating and a $32.00 price target on the stock. Finally, Jefferies Financial Group assumed coverage on Milestone Pharmaceuticals in a report on Monday, June 3rd. They issued a “buy” rating and a $28.00 price target on the stock. Five analysts have rated the stock with a buy rating, Milestone Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $30.10.
Milestone Pharmaceuticals stock opened at $20.72 on Monday. Milestone Pharmaceuticals has a 12-month low of $15.09 and a 12-month high of $22.13.
In related news, major shareholder Holdings A/S Novo bought 333,333 shares of the business’s stock in a transaction on Monday, May 13th. The shares were purchased at an average price of $15.00 per share, with a total value of $4,999,995.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Rtw Investments, Lp bought 666,667 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was bought at an average cost of $15.00 per share, for a total transaction of $10,000,005.00. The disclosure for this purchase can be found here.
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About Milestone Pharmaceuticals
Milestone Pharmaceuticals Inc, a biopharmaceutical company, develops and commercializes drugs for the treatment of cardiovascular indications. It offers Etripamil that completed Phase 2 clinical trial for the treatment of paroxysmal supraventricular tachycardia in the United States and Canada, as well as for treating Atrial Fibrillation and Angina.
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