Patrick Trucchio, an analyst from H.C. Wainwright, reiterated the Buy rating on Milestone Pharmaceuticals (MIST – Research Report). The associated price target remains the same with $25.00.
Patrick Trucchio has given his Buy rating due to a combination of factors that highlight Milestone Pharmaceuticals’ promising future. The anticipated FDA approval of CARDAMYST (etripamil) for paroxysmal supraventricular tachycardia (PSVT) by March 2025 is a pivotal event that could introduce a first-in-class, self-administered treatment, potentially transforming acute episodic care in cardiology. This innovative therapy is expected to capture a significant market share, estimated at over $500 million, and could further expand into atrial fibrillation with rapid ventricular rate (AFib-RVR), with a Phase 3 trial set to commence in the second quarter of 2025.
Moreover, the streamlined regulatory pathway for AFib-RVR, supported by an established safety profile from the PSVT program, positions Milestone for substantial commercial success across both indications. The company anticipates $75 million in milestone payments upon approval, with a commercial launch planned for mid-2025. These developments, coupled with the undervaluation of MIST shares relative to their long-term potential, underpin Trucchio’s Buy rating and $25 price target. The upcoming regulatory approval, commercial launch, and initiation of the AFib-RVR Phase 3 program are seen as key catalysts for significant value creation.
In another report released on March 14, TD Cowen also maintained a Buy rating on the stock with a $9.00 price target.
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