Milestone Pharmaceuticals (NasdaqGS:MIST) - Share price, News & Analysis

MIST fundamental analysis
Snowflake Score
Valuation	1/6
Future Growth	0/6
Past Performance	0/6
Financial Health	6/6
Dividends	0/6

MIST Stock Overview

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

Risk Analysis

Currently unprofitable and not forecast to become profitable over the next 3 years

Milestone Pharmaceuticals Competitors

Marinus Pharmaceuticals

NasdaqGM:MRNS

US$220.2m

Xeris Biopharma Holdings

NasdaqGS:XERS

US$262.4m

Verona Pharma

NasdaqGM:VRNA

US$664.4m

ProPhase Labs

NasdaqCM:PRPH

US$167.7m

Price History & Performance

Summary of all time highs, changes and price drops for Milestone Pharmaceuticals
Historical stock prices
Current Share Price	US$6.47
52 Week High	US$8.24
52 Week Low	US$3.98
Beta	2.78
1 Month Change	2.86%
3 Month Change	26.12%
1 Year Change	20.48%
3 Year Change	-62.49%
5 Year Change	n/a
Change since IPO	-57.90%

Recent News & Updates

Jun 24

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 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

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

Shareholder Returns

	MIST	US Pharmaceuticals	US Market
7D	-6.9%	-0.8%	0.3%
1Y	20.5%	1.5%	-13.5%

Return vs Industry: MIST exceeded the US Pharmaceuticals industry which returned 1.5% over the past year.

Return vs Market: MIST exceeded the US Market which returned -13.5% over the past year.

Price Volatility

Is MIST's price volatile compared to industry and market?
MIST volatility
MIST Average Weekly Movement	6.8%
Pharmaceuticals Industry Average Movement	11.7%
Market Average Movement	7.9%
10% most volatile stocks in US Market	17.2%
10% least volatile stocks in US Market	3.2%

Stable Share Price: MIST is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: MIST's weekly volatility (7%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2003	29	Joe Oliveto	https://www.milestonepharma.com

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 Cap	US$193.62m
Earnings (TTM)	-US$44.35m
Revenue (TTM)	US$15.00m

12.9x

P/S Ratio

-4.4x

P/E Ratio

Is MIST overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
MIST income statement (TTM)
Revenue	US$15.00m
Cost of Revenue	US$0
Gross Profit	US$15.00m
Other Expenses	US$59.35m
Earnings	-US$44.35m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	-1.48
Gross Margin	100.00%
Net Profit Margin	-295.64%
Debt/Equity Ratio	0%

How did MIST perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

1/6

Valuation Score 1/6

Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales 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.

The above table shows the n/a ratio for MIST. This is calculated by dividing MIST's market cap by their current preferred multiple.
What is MIST's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	US$193.62m

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/Revenue	6.3x
Enterprise Value/EBITDA	-2.1x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

MIST PS Ratio vs Peers

The above table shows the PS ratio for MIST vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PS	Estimated Growth	Market Cap
Peer Average	7.5x
MRNS Marinus Pharmaceuticals	7.9x	60.1%	US$220.2m
XERS Xeris Biopharma Holdings	4.1x	28.7%	US$262.4m
VRNA Verona Pharma	16.6x	63.3%	US$664.4m
PRPH ProPhase Labs	1.5x	-17.0%	US$167.7m
MIST Milestone Pharmaceuticals	12.9x	79.0%	US$193.6m

Price-To-Sales vs Peers: MIST is expensive based on its Price-To-Sales Ratio (12.9x) compared to the peer average (7.5x).

Price to Earnings Ratio vs Industry

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

Price-To-Sales vs Industry: MIST is expensive based on its Price-To-Sales Ratio (12.9x) compared to the US Pharmaceuticals industry average (3.8x)

Price to Sales Ratio vs Fair Ratio

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

MIST PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	12.9x
Fair PS Ratio	30.4x

Price-To-Sales vs Fair Ratio: MIST is good value based on its Price-To-Sales Ratio (12.9x) compared to the estimated Fair Price-To-Sales Ratio (30.4x).

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

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

48.8%

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

0/6

Past Performance Score 0/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-13.1%

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 13.1% 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 (13.5%).

Return on Equity

High ROE: MIST has a negative Return on Equity (-44.01%), as it is currently unprofitable.

Discover strong past performing companies

Financial Health

How is Milestone Pharmaceuticals's financial position?

Financial Health Score

6/6

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 ($105.0M) exceed its short term liabilities ($4.6M).

Long Term Liabilities: MIST's short term assets ($105.0M) exceed its long term liabilities ($433.0K).

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 2 years if free cash flow continues to reduce at historical rates of 9.6% each year.

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Dividend

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

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Cash Flow Coverage

Dividend Yield vs Market

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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Management

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

2.6yrs

Average management tenure

CEO

Joe Oliveto (54 yo)

5.42yrs

Tenure

US$4,095,253

Compensation

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

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 (2.6 years average tenure).

Board Members

Experienced Board: MIST's board of directors are considered experienced (4.2 years average tenure).

Ownership

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

Insider Trading Volume

Insider Buying: MIST insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

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

Data	Last Updated (UTC time)
Company Analysis	2022/08/10 00:00
End of Day Share Price	2022/08/10 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31