Oppenheimer Reiterates Outperform Rating, $16 Price Target on Milestone Pharmaceuticals (MIST), "We Like Risk/Reward into RAPID Trial Readout"

Oppenheimer analyst Leland Gershell reiterated an Outperform rating and $16.00 price target on Milestone Pharmaceuticals (NASDAQ: MIST), following the company's Q1 report.

The analyst comments: "Milestone reported a 1Q22 net loss of $14.0M vs. our $(17.7M) estimate. More important, top-line data from the Phase 3 RAPID trial of etripamil in PSVT remain on track to be announced in late 3Q/early 4Q. MIST's KOL event last month further illuminated etripamil's opportunity in this condition, and NODE-301 OLE data presented at the AHA Heart Failure meeting demonstrate the feasibility for self-treatment of recurrent episodes with the product. Presentation at ACC demonstrates etripamil's comparable safety and tolerability profile in both Japanese and non-Japanese subjects, setting the stage for eventual development for the Japan market. We believe etripamil is poised to generate peak US net sales of $500M in PSVT. We like the risk-reward into the RAPID readout, to which current cash resources provide ample runway."

For an analyst ratings summary and ratings history on Milestone Pharmaceuticals click here. For more ratings news on Milestone Pharmaceuticals click here.

Shares of Milestone Pharmaceuticals closed at $5.13 yesterday.

By Vlad Schepkov

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