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Milestone Pharmaceuticals NasdaqGS:MIST Stock Report

Last Price


Market Cap







03 Oct, 2022


Company Financials +
MIST fundamental analysis
Snowflake Score
Future Growth0/6
Past Performance0/6
Financial Health6/6

MIST Stock Overview

Milestone Pharmaceuticals Inc., a biopharmaceutical company, focuses on the development and commercialization of cardiovascular medicines.

Milestone Pharmaceuticals Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Milestone Pharmaceuticals
Historical stock prices
Current Share PriceUS$9.07
52 Week HighUS$9.85
52 Week LowUS$3.98
1 Month Change4.61%
3 Month Change49.42%
1 Year Change55.04%
3 Year Change-50.33%
5 Year Changen/a
Change since IPO-40.99%

Recent News & Updates

Jun 24
We Think Milestone Pharmaceuticals (NASDAQ:MIST) Can Afford To Drive Business Growth

We Think Milestone Pharmaceuticals (NASDAQ:MIST) Can Afford To Drive Business Growth

There's no doubt that money can be made by owning shares of unprofitable businesses. For example, although...

Feb 25
We're Hopeful That Milestone Pharmaceuticals (NASDAQ:MIST) Will Use Its Cash Wisely

We're Hopeful That Milestone Pharmaceuticals (NASDAQ:MIST) Will Use Its Cash Wisely

We can readily understand why investors are attracted to unprofitable companies. For example, although...

Aug 25
We're Interested To See How Milestone Pharmaceuticals (NASDAQ:MIST) Uses Its Cash Hoard To Grow

We're Interested To See How Milestone Pharmaceuticals (NASDAQ:MIST) Uses Its Cash Hoard To Grow

Just because a business does not make any money, does not mean that the stock will go down. For example, biotech and...

Shareholder Returns

MISTUS PharmaceuticalsUS Market

Return vs Industry: MIST exceeded the US Pharmaceuticals industry which returned 3.2% over the past year.

Return vs Market: MIST exceeded the US Market which returned -23.2% over the past year.

Price Volatility

Is MIST's price volatile compared to industry and market?
MIST volatility
MIST Average Weekly Movement9.4%
Pharmaceuticals Industry Average Movement11.2%
Market Average Movement6.8%
10% most volatile stocks in US Market15.5%
10% least volatile stocks in US Market2.8%

Stable Share Price: MIST is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 9% a week.

Volatility Over Time: MIST's weekly volatility (9%) has been stable over the past year.

About the Company

200329Joe Oliveto

Milestone Pharmaceuticals Inc., a biopharmaceutical company, focuses on the development and commercialization of cardiovascular medicines. The company is developing etripamil, a novel 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. It has a license and collaboration agreement with Ji Xing Pharmaceuticals to develop and commercialize etripamil prophylactic and therapeutic uses in humans.

Milestone Pharmaceuticals Fundamentals Summary

How do Milestone Pharmaceuticals's earnings and revenue compare to its market cap?
MIST fundamental statistics
Market CapUS$272.20m
Earnings (TTM)-US$61.76m
Revenue (TTM)n/a


P/S Ratio


P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
MIST income statement (TTM)
Cost of RevenueUS$1.40m
Gross Profit-US$1.40m
Other ExpensesUS$60.36m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date


Earnings per share (EPS)-2.06
Gross Margin0.00%
Net Profit Margin0.00%
Debt/Equity Ratio0%

How did MIST perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.


Is MIST undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score


Valuation Score 0/6

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MIST?

Other financial metrics that can be useful for relative valuation.

MIST key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDA-3x
PEG Ration/a

Price to Book Ratio vs Peers

How does MIST's PB Ratio compare to its peers?

MIST PB Ratio vs Peers
The above table shows the PB ratio for MIST vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPBEstimated GrowthMarket Cap
Peer Average2.9x
JUSH.F Jushi Holdings
XERS Xeris Biopharma Holdings
OCUL Ocular Therapeutix
PRPH ProPhase Labs
MIST Milestone Pharmaceuticals

Price-To-Book vs Peers: MIST is expensive based on its Price-To-Book Ratio (3.1x) compared to the peer average (2.9x).

Price to Earnings Ratio vs Industry

How does MIST's PE Ratio compare vs other companies in the US Pharmaceuticals Industry?

Price-To-Book vs Industry: MIST is expensive based on its Price-To-Book Ratio (3.1x) compared to the US Pharmaceuticals industry average (1.7x)

Price to Book Ratio vs Fair Ratio

What is MIST's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MIST PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio3.1x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate MIST's Price-To-Book Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of MIST when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate MIST's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate MIST's fair value for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Future Growth

How is Milestone Pharmaceuticals forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

Future Growth Score


Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: MIST is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: MIST is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: MIST is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: MIST is forecast to have no revenue next year.

High Growth Revenue: MIST is forecast to have no revenue next year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if MIST's Return on Equity is forecast to be high in 3 years time

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Past Performance

How has Milestone Pharmaceuticals performed over the past 5 years?

Past Performance Score


Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: MIST is currently unprofitable.

Growing Profit Margin: MIST is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: MIST is unprofitable, and losses have increased over the past 5 years at a rate of 14.2% per year.

Accelerating Growth: Unable to compare MIST's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: MIST is unprofitable, making it difficult to compare its past year earnings growth to the Pharmaceuticals industry (5%).

Return on Equity

High ROE: MIST has a negative Return on Equity (-71.27%), as it is currently unprofitable.

Discover strong past performing companies

Financial Health

How is Milestone Pharmaceuticals's financial position?

Financial Health Score


Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: MIST's short term assets ($90.5M) exceed its short term liabilities ($4.3M).

Long Term Liabilities: MIST's short term assets ($90.5M) exceed its long term liabilities ($384.0K).

Debt to Equity History and Analysis

Debt Level: MIST is debt free.

Reducing Debt: MIST has not had any debt for past 5 years.

Balance Sheet

Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: MIST has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: MIST has sufficient cash runway for 1.7 years if free cash flow continues to reduce at historical rates of 10% each year.

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What is Milestone Pharmaceuticals's current dividend yield, its reliability and sustainability?

Dividend Score


Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Milestone Pharmaceuticals Dividend Yield vs Market
How does Milestone Pharmaceuticals dividend yield compare to the market?
SegmentDividend Yield
Company (Milestone Pharmaceuticals)n/a
Market Bottom 25% (US)1.6%
Market Top 25% (US)4.6%
Industry Average (Pharmaceuticals)2.6%
Analyst forecast in 3 Years (Milestone Pharmaceuticals)n/a

Notable Dividend: Unable to evaluate MIST's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate MIST's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if MIST's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if MIST's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as MIST has not reported any payouts.

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How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Joe Oliveto (54 yo)





Mr. Joseph G. Oliveto, also known as Joe, M.B.A., has been Chief Executive Officer and President of Milestone Pharmaceuticals Inc. March 2017 and has been its Director since July 2017. Mr. Oliveto served a...

CEO Compensation Analysis

Joe Oliveto's Compensation vs Milestone Pharmaceuticals Earnings
How has Joe Oliveto's remuneration changed compared to Milestone Pharmaceuticals's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a


Mar 31 2022n/an/a


Dec 31 2021US$4mUS$509k


Sep 30 2021n/an/a


Jun 30 2021n/an/a


Mar 31 2021n/an/a


Dec 31 2020US$4mUS$470k


Sep 30 2020n/an/a


Jun 30 2020n/an/a


Mar 31 2020n/an/a


Dec 31 2019US$785kUS$458k


Sep 30 2019n/an/a


Jun 30 2019n/an/a


Mar 31 2019n/an/a


Dec 31 2018US$1mUS$360k


Dec 31 2017US$851kUS$364k


Compensation vs Market: Joe's total compensation ($USD4.10M) is above average for companies of similar size in the US market ($USD1.68M).

Compensation vs Earnings: Joe's compensation has increased whilst the company is unprofitable.

Leadership Team

Experienced Management: MIST's management team is considered experienced (2.7 years average tenure).

Board Members

Experienced Board: MIST's board of directors are considered experienced (4.3 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

NasdaqGS:MIST Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
23 Sep 22BuyUS$3,948,910Novo Holdings A/SCompany432,290US$9.60
07 Sep 22BuyUS$13,564,484RTW Investments, LPCompany1,557,346US$8.71
07 Sep 22SellUS$13,564,484RTW Investments, LPCompany1,557,346US$8.71
31 May 22BuyUS$28,000Paul TruexIndividual5,000US$5.60

Ownership Breakdown

What is the ownership structure of MIST?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders470,8481.6%
Hedge Funds4,315,10214.4%
General Public4,673,25415.6%
VC/PE Firms12,860,61542.9%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 25 shareholders own 84.16% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
RTW Investments, LP
BDC Capital Inc.
RA Capital Management, L.P.
Tavistock Life Sciences
Novo Holdings A/S
VR Adviser, LLC
OrbiMed Advisors LLC
Ikarian Capital, LLC
Millennium Management LLC
Morgan Stanley, Investment Banking and Brokerage Investments
1,318,173$12.0m61.02%no data
Pura Vida Investments, LLC
Lion Point Capital, LP
Bleichroeder LP
Acuta Capital Partners LLC
Joseph Oliveto
280,555$2.5m0%no data
Barclays Bank PLC, Securities Investments
Eversept Partners, L.P.
Boothbay Fund Management, LLC
Lorenz Muller
108,386$983.1k0%no data
Paul Truex
81,780$741.7k0%no data
Dimensional Fund Advisors LP
75,346$683.4k22.03%no data
Susquehanna Fundamental Investments, LLC
State Street Global Advisors, Inc.
21,608$196.0k-0.89%no data
Susquehanna International Group, LLP, Asset Management Arm
18,233$165.4k0%no data
Geode Capital Management, LLC
17,576$159.4k0%no data

Company Information

Milestone Pharmaceuticals Inc.'s employee growth, exchange listings and data sources

Key Information

  • Name: Milestone Pharmaceuticals Inc.
  • Ticker: MIST
  • Exchange: NasdaqGS
  • Founded: 2003
  • Industry: Pharmaceuticals
  • Sector: Pharmaceuticals & Biotech
  • Implied Market Cap: US$272.199m
  • Shares outstanding: 30.01m
  • Website:

Number of Employees


  • Milestone Pharmaceuticals Inc.
  • 1111 Dr. Frederik-Philips Boulevard
  • Suite 420
  • Montreal
  • Quebec
  • H4M 2X6
  • Canada


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MISTNasdaqGS (Nasdaq Global Select)YesCommon SharesUSUSDMay 2019

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/03 00:00
End of Day Share Price2022/10/03 00:00
Annual Earnings2021/12/31

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.