Brandon Folkes, an analyst from H.C. Wainwright, reiterated the Buy rating on Milestone Pharmaceuticals. The associated price target remains the same with $8.00.
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Brandon Folkes has given his Buy rating due to a combination of factors related to Milestone’s early CARDAMYST launch and financial position. He highlights that prescriptions are being written, patients are receiving therapy through functioning distribution channels, and a fully staffed sales force is already generating strong prescriber engagement, all despite the current lack of broad payer coverage.
Folkes also points to Milestone’s pro forma cash balance of more than $200 million as sufficient to support the commercial rollout and bridge the period until coverage broadens. In his view, the recent share price pullback does not reflect the underlying operational progress, and he believes expanding payer coverage can unlock a step-change in prescription volumes, supporting his reiterated Buy rating and $8 price target.