Toronto Dominion Bank Makes New Investment in Milestone Pharmaceuticals Inc. (NASDAQ:MIST)

Toronto Dominion Bank purchased a new position in shares of Milestone Pharmaceuticals Inc. (NASDAQ:MIST) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 750,000 shares of the company’s stock, valued at approximately $1,770,000. Toronto Dominion Bank owned about 1.41% of Milestone Pharmaceuticals at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in MIST. Cubist Systematic Strategies LLC acquired a new stake in shares of Milestone Pharmaceuticals in the 4th quarter valued at about $73,000. Boxer Capital Management LLC acquired a new stake in shares of Milestone Pharmaceuticals in the 4th quarter valued at about $729,000. Northern Trust Corp boosted its position in shares of Milestone Pharmaceuticals by 112.6% in the 4th quarter. Northern Trust Corp now owns 58,108 shares of the company’s stock valued at $137,000 after purchasing an additional 30,772 shares during the period. XTX Topco Ltd acquired a new stake in shares of Milestone Pharmaceuticals in the 4th quarter valued at about $80,000. Finally, National Bank of Canada FI boosted its position in shares of Milestone Pharmaceuticals by 163.4% in the 4th quarter. National Bank of Canada FI now owns 18,700 shares of the company’s stock valued at $44,000 after purchasing an additional 11,600 shares during the period. 86.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MIST. TD Securities cut Milestone Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, April 1st. TD Cowen cut Milestone Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 1st. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price objective on shares of Milestone Pharmaceuticals in a research note on Friday, March 28th. Finally, Cowen downgraded Milestone Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, April 1st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.00.

Milestone Pharmaceuticals Stock Performance

Shares of MIST stock opened at $1.54 on Friday. The company has a market cap of $82.33 million, a price-to-earnings ratio of -1.90 and a beta of 0.86. The stock has a 50 day simple moving average of $1.19 and a 200-day simple moving average of $1.70. Milestone Pharmaceuticals Inc. has a 12-month low of $0.63 and a 12-month high of $2.75. The company has a current ratio of 15.40, a quick ratio of 15.40 and a debt-to-equity ratio of 2.18.

Milestone Pharmaceuticals (NASDAQ:MIST) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.12). On average, equities analysts forecast that Milestone Pharmaceuticals Inc. will post -0.62 EPS for the current year.

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.