Milestone Pharmaceuticals (NASDAQ:MIST) Releases Earnings Results, Misses Expectations By $0.39 EPS

Milestone Pharmaceuticals (NASDAQ:MIST) posted its quarterly earnings data on Wednesday. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.39), FiscalAI reports. The firm had revenue of $0.24 million during the quarter, compared to the consensus estimate of $30.12 million.

Here are the key takeaways from Milestone Pharmaceuticals’ conference call:

• CARDEMYST launch is off to an early start with steady prescription growth, reaching about 600 total prescriptions by the end of April and over 400 unique HCP writers for roughly 560 patients. Management said the pace is increasing month over month, with April scripts roughly matching the prior two months combined.
• Express Scripts added CARDEMYST to its national commercial formulary, which management said gives the drug coverage access to about 25% of commercially insured lives. The company views this as an early validation of the product’s clinical and economic value and expects more payer wins ahead.
• Physician reception appears broad and encouraging, with early prescriptions coming from cardiology, electrophysiology, and advanced practice providers. Management highlighted that many scripts were written after only one or two sales interactions, which they see as a sign the value proposition is resonating.
• Milestone initiated its Phase III ReVeRA-301 trial in AFib with rapid ventricular rate and expects to enroll the first patient in the second half of 2026. The company said the study is built on positive Phase II data and uses a similar self-administration approach to its PSVT program.
• The balance sheet is strong, with about $184 million in cash and investments as of March 31, 2026, enough to fund launch activities and the ReVeRA-301 study into the second half of 2027. First-quarter net loss was about $26.1 million, driven in part by higher commercial spending tied to the launch.

Milestone Pharmaceuticals Trading Down 10.9%

Shares of Milestone Pharmaceuticals stock traded down $0.21 on Wednesday, reaching $1.69. 4,917,857 shares of the company were exchanged, compared to its average volume of 2,240,192. Milestone Pharmaceuticals has a fifty-two week low of $1.00 and a fifty-two week high of $3.06. The firm has a market capitalization of $202.43 million, a price-to-earnings ratio of -2.14 and a beta of 1.04. The company has a current ratio of 8.01, a quick ratio of 7.96 and a debt-to-equity ratio of 1.37. The stock has a fifty day moving average price of $1.70 and a 200-day moving average price of $1.93.

Insiders Place Their Bets

In related news, CEO Joseph Oliveto sold 36,500 shares of Milestone Pharmaceuticals stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $2.26, for a total value of $82,490.00. Following the transaction, the chief executive officer owned 446,244 shares of the company’s stock, valued at approximately $1,008,511.44. This trade represents a 7.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 19.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MIST. Creative Planning boosted its holdings in shares of Milestone Pharmaceuticals by 74.6% during the second quarter. Creative Planning now owns 23,410 shares of the company’s stock worth $45,000 after purchasing an additional 10,000 shares during the period. Raymond James Financial Inc. boosted its stake in shares of Milestone Pharmaceuticals by 30.1% during the 2nd quarter. Raymond James Financial Inc. now owns 43,235 shares of the company’s stock valued at $84,000 after buying an additional 10,000 shares during the period. Bank of America Corp DE boosted its stake in shares of Milestone Pharmaceuticals by 200,550.0% during the 3rd quarter. Bank of America Corp DE now owns 16,052 shares of the company’s stock valued at $32,000 after buying an additional 16,044 shares during the period. Cetera Investment Advisers purchased a new position in shares of Milestone Pharmaceuticals during the 4th quarter valued at $42,000. Finally, Invesco Ltd. acquired a new position in shares of Milestone Pharmaceuticals in the fourth quarter worth $44,000. 86.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Zacks Research lowered Milestone Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Wall Street Zen upgraded shares of Milestone Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Raymond James Financial began coverage on shares of Milestone Pharmaceuticals in a report on Friday, April 10th. They issued a “strong-buy” rating and a $6.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Milestone Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $7.50.

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.