In a report released today, Anthony Vendetti from Maxim Group assigned a Buy rating to Milestone Scientific (MLSS), with a price target of $1. The company’s shares closed yesterday at $0.36, close to its 52-week low of $0.26.
Vendetti wrote:
“Yesterday, MLSS completed an equity raise, including common shares and warrants, that provided net cash of about $1.86M. We believe this temporarily relieved a liquidity crunch, but expect another capital raise in 2H19. The Anesthesia & Analgesia Journal published positive data from a 388- patient trial evaluating the company’s epidural instrument (EI) against the standard of care. Due to expected future dilution, we are reducing our PT to $1.00, from $1.50.”
According to TipRanks.com, Vendetti is a 4-star analyst with an average return of 5.4% and a 50.4% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Restoration Robotics Inc, Xtant Medical Holdings, and Ra Medical Systems Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Milestone Scientific with a $1 average price target.
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Based on Milestone Scientific’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $4.39 million. In comparison, last year the company had a GAAP net loss of $1.79 million.
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Milestone Scientific, Inc. engages in the provision of pioneering proprietary, innovative technological systems and solutions. It also involves in the development, manufacture, market, and selling of computer controlled system for the improved and painless delivery of local anesthetic. It operates through the Dental and Medical segments.
