Milestone Pharmaceuticals Inc.

NasdaqGS:MIST Stock Report

Market Cap: US$119.2m

Milestone Pharmaceuticals Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

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: MIST ($1.8) is trading below our estimate of fair value ($199.5)

Significantly Below Fair Value: MIST is trading below fair value by more than 20%.

Key Valuation Metric

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

Key metric: As MIST is unprofitable and pre-revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for MIST. This is calculated by dividing MIST's market cap by their current book value.
What is MIST's PB Ratio?
PB Ratio5x
BookUS$24.01m
Market CapUS$119.23m

Price to Book Ratio vs Peers

How does MIST's PB Ratio compare to its 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.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average4.2x
NGM NGM Biopharmaceuticals
0.9x14.7%US$128.5m
ORMP Oramed Pharmaceuticals
0.6x-104.1%US$95.5m
IKNA Ikena Oncology
0.6x4.6%US$74.8m
ALTS ALT5 Sigma
14.7xn/aUS$54.0m
MIST Milestone Pharmaceuticals
5x63.6%US$119.2m

Price-To-Book vs Peers: MIST is expensive based on its Price-To-Book Ratio (5x) compared to the peer average (4.2x).

Price to Book Ratio vs Industry

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

27 CompaniesPrice / BookEstimated GrowthMarket Cap
CTXR Citius Pharmaceuticals
0.2x55.3%US$20.09m
RLMD Relmada Therapeutics
0.2x12.5%US$10.95m
TNFA TNF Pharmaceuticals
0.2xn/aUS$3.75m
SHWZ Medicine Man Technologies
0.04xn/aUS$3.21m
MIST 5.0xIndustry Avg. 1.6xNo. of Companies27PB012345+
27 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: MIST is expensive based on its Price-To-Book Ratio (5x) compared to the US Pharmaceuticals industry average (1.6x).

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 Ratio5x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate MIST's Price-To-Book Fair Ratio 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?

The above table shows the analyst MIST forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$1.80
US$10.25
+469.4%
86.5%US$25.00US$2.00n/a4
Dec ’25US$1.99
US$10.25
+415.1%
86.5%US$25.00US$2.00n/a4
Nov ’25US$1.44
US$10.25
+611.8%
86.5%US$25.00US$2.00n/a4
Oct ’25US$1.50
US$10.25
+583.3%
86.5%US$25.00US$2.00n/a4
Sep ’25US$1.42
US$10.25
+621.8%
86.5%US$25.00US$2.00n/a4
Aug ’25US$1.39
US$10.25
+637.4%
86.5%US$25.00US$2.00n/a4
Jul ’25US$1.34
US$10.25
+664.9%
86.5%US$25.00US$2.00n/a4
Jun ’25US$1.50
US$10.25
+583.3%
86.5%US$25.00US$2.00n/a4
May ’25US$1.60
US$10.50
+556.3%
82.3%US$25.00US$3.00n/a4
Apr ’25US$1.83
US$10.50
+473.8%
82.3%US$25.00US$3.00n/a4
Mar ’25US$1.61
US$10.75
+567.7%
79.0%US$25.00US$3.00n/a4
Feb ’25US$1.67
US$10.75
+543.7%
79.0%US$25.00US$3.00n/a4
Jan ’25US$1.67
US$10.80
+546.7%
70.4%US$25.00US$3.00n/a5
Dec ’24US$3.17
US$13.60
+329.0%
53.3%US$25.00US$3.00US$1.995
Nov ’24US$2.80
US$13.80
+392.9%
50.5%US$25.00US$4.00US$1.445
Oct ’24US$3.10
US$13.80
+345.2%
50.5%US$25.00US$4.00US$1.505
Sep ’24US$2.70
US$13.80
+411.1%
50.5%US$25.00US$4.00US$1.425
Aug ’24US$3.17
US$14.20
+347.9%
48.3%US$25.00US$4.00US$1.395
Jul ’24US$2.85
US$14.20
+398.2%
48.3%US$25.00US$4.00US$1.345
Jun ’24US$3.70
US$15.00
+305.4%
38.4%US$25.00US$8.00US$1.505
May ’24US$3.62
US$15.00
+314.4%
38.4%US$25.00US$8.00US$1.605
Apr ’24US$3.94
US$15.60
+295.9%
36.4%US$25.00US$8.00US$1.835
Mar ’24US$3.14
US$15.20
+384.1%
39.3%US$25.00US$8.00US$1.615
Feb ’24US$4.02
US$16.40
+308.0%
30.0%US$25.00US$10.00US$1.675
Jan ’24US$3.96
US$16.40
+314.1%
30.0%US$25.00US$10.00US$1.675
Dec ’23US$4.86
US$16.40
+237.4%
30.0%US$25.00US$10.00US$3.175

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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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/22 13:01
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Milestone Pharmaceuticals Inc. is covered by 6 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Patrick TrucchioH.C. Wainwright & Co.
Christopher HowertonJefferies LLC
Yuchen DingJefferies LLC