Milestone Pharmaceuticals Inc. (MIST) AI Stock Analysis

Milestone Pharmaceuticals Inc. is a biopharmaceutical firm dedicated to advancing cardiovascular treatments. Headquartered in Montreal, Canada, and founded in 2003, the company focuses on developing and commercializing innovative medicines. Its flagship product under development is etripamil, a calcium channel blocker currently in Phase III clinical trials in the United States and Canada for paroxysmal supraventricular tachycardia, alongside Phase II trials for atrial fibrillation and rapid ventricular rate. Milestone Pharmaceuticals operates under a strategic license and collaboration agreement with Ji Xing Pharmaceuticals to explore prophylactic and therapeutic uses of etripamil in human healthcare.

Milestone Pharmaceuticals recorded a 4-year revenue compound annual growth rate of -43.3% from FY2020 to FY2025. Annual revenue decreased from $15.0M in FY2020 and FY2021 to $5.0M in FY2022 and $1.0M in FY2023, before rising 54.6% to $1.5M in FY2025. In FY2025, operating margin was -4041.7%, research and development expense totaled $18.1M, and net income was -$63.1M, translating to an eps of -$0.78. Over the trailing twelve months ended June 30, 2026, revenue was $2.3M with an operating margin of -4585.0% and eps of -$0.68, while quarterly revenue growth fell 100.0% year-over-year.

As of June 30, 2026, Milestone Pharmaceuticals held $170.6M in cash and short-term investments against $141.8M in total debt, leaving net cash of $28.8M. Total assets stood at $181.6M and shareholders' equity was $18.2M, with a current ratio of 8.13 and a debt-to-equity ratio of 7.79. In FY2025, operating cash flow was -$49.0M and free cash flow was -$49.3M, while capital expenditures were $302,000. Over the past five years, the company's share count expanded by 228.8%.

At its last close of $0.71 on October 16, 2026, Milestone Pharmaceuticals had a market capitalization of $88.1M and an enterprise value of -$3.2M. The stock trades at a price-to-sales multiple of 37.6x, compared to the median of 4.1x for its US-listed Healthcare peers, and carries a price-to-book multiple of 5.9x. The stock declined 64.1% over the past year, trailing the 16.8% gain for the S&P 500. Over the five-year period, the stock dropped 88.0% compared to an 83.0% return for the benchmark, and it currently trades 50.9% below its 200-day average.

Wall Street coverage includes 5 Strong Buy, 1 Buy, and 1 Hold ratings, with no Sell or Strong Sell ratings. The mean price target is $5.86, representing a 728.4% premium over the last close of $0.71. For the fiscal year ending December 31, 2026, analysts estimate revenue of $3.8M and an eps estimate of -$0.84. For the subsequent year, 5 analysts project revenue to expand 476.4% to $22.1M. Milestone exceeded eps expectations in 2 of the last 4 quarters, and the next earnings date is November 11, 2026.

This page is an AI-written research summary of Milestone Pharmaceuticals Inc. (MIST). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: MIST income statement, MIST balance sheet, MIST key metrics, MIST analyst forecast, MIST chart. See the MIST stock overview for the latest quote and news.