Jefferies Lifts Milestone Pharmaceuticals (MIST) Price Targets on Product Sales Prospects

Milestone Pharmaceuticals (NASDAQ:MIST) is one of the Canadian penny stocks to buy right now. On November 13, analysts at Jefferies reiterated a Hold rating on Milestone Pharmaceuticals (NASDAQ: MIST) and raised the price target to $2 from $1.

The price target hike is in response to the company’s continued confidence in its PDUFA, with a product launch planned for early next year. Likewise, the company expects the first quarter of next year to mark the start of meaningful sales. The company is in the process of deploying 60 representatives who will target up to 15,000 high-volume prescribers,

Milestone Pharmaceuticals is currently working on Etripamil, a nasal-administered, short-acting calcium channel blocker. The candidate drug is poised to advance the company’s efforts to pursue opportunities in the treatment of paroxysmal supraventricular tachycardia (PSVT), a condition characterized by an abnormally fast heartbeat due to electrical signaling issues in the heart.

Milestone Pharmaceuticals (NASDAQ:MIST) is a biopharmaceutical company focused on developing and commercializing cardiovascular medicines for self-administration by patients with episodic heart conditions.

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Disclosure: None. This article is originally published at Insider Monkey.