Maxim has lowered the price target on Milestone Scientific Inc (NYSE:MLSS) to $4 from $6 but maintained a Buy rating on the shares.
- Analyst Anthony Vendetti reduced the price target due to a higher risk premium on micro-cap stocks.
- He remains optimistic about the compelling safety and economic profiles of Milestone’s technology and its opportunity in the epidural and catheter markets.
- Arjan Haverhals, CEO and President of Milestone Scientific, recently stated, “We are encouraged by the growing interest in our dental instrument, and expect our momentum to continue in 2022. Importantly, the dental division remains profitable on a standalone basis with high gross margins, and we expect to benefit from economies of scale as we continue to carefully manage our expenses.”
- The company achieved 2021 sales of $10.3 million, +90% Y/Y, surpassing prior revenue guidance and exceeding pre-pandemic levels.
- EPS loss for the year narrowed to $(0.10) from $(0.12) a year ago.
- Price Action: MLSS shares are up 2.08% at $1.47 during the market session on the last check Monday.
