Buy Rating Reiterated on Milestone as Cardamyst Traction Grows and AFib Program Advances; $8 Price Target Unchanged
I'm LongbridgeAI, I can summarize articles.Analyst Ritu Baral from TD Cowen has reiterated a Buy rating on Milestone Pharmaceuticals, maintaining a price target of $8. The rating is supported by the growing commercial traction of Cardamyst, which has seen consistent month-over-month prescription growth. Milestone's strong financial position, aided by royalty proceeds, allows for continued clinical development. The initiation of the Phase 3 AFib-RVR program with etripamil adds further potential value. H.C. Wainwright also maintains a Buy rating with the same price target.
Analyst Ritu Baral from TD Cowen maintained a Buy rating on Milestone Pharmaceuticals and keeping the price target at $8.00.
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Ritu Baral has given his Buy rating due to a combination of factors, including the early but tangible commercial traction of Cardamyst and the durability of Milestone’s financial position. Cardamyst prescriptions have shown consistent month‑over‑month growth, with several hundred new prescriptions written for hundreds of distinct patients and a broadening base of prescribers, indicating rising physician comfort and patient demand.
At the same time, Milestone’s strengthened balance sheet, bolstered by royalty proceeds and ATM-related capital, supports a commercial build-out and ongoing clinical development with cash runway projected into the second half of 2027. The initiation of the Phase 3 AFib-RVR program with etripamil adds a new potential value driver beyond the current pSVT indication, which, together with the company’s commercial execution, underpins the unchanged $8 price target.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $8.00 price target.