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On Wednesday, Milestone Scientific Inc. (NYSE:MLSS) received continued support from Benchmark analysts, as they reiterated a Speculative Buy rating and maintained a $1.25 price target on the company’s shares. The stock has shown strong momentum, gaining nearly 18% in the past week and 48% over the last six months. The endorsement comes following the company’s announcement of ending the first quarter with a strong financial position, having $2.2 million in cash and carrying no debt.
Milestone Scientific is actively expanding its reach in the Medicare market segment for pain management through its CompuFlo System, which has already secured coverage from three out of the twelve Medicare Administrative Contractors (MACs). The system’s value proposition is seen as particularly appealing to pain management providers and is expected to stimulate growth in a market segment that accounts for roughly 3.6 million procedures annually.
The company is not only aiming to obtain coverage from the remaining nine MACs but is also setting its sights on reimbursement from private payors. This strategy could potentially open up the market to an even larger number of procedures, with the total available market reaching nine million procedures.
Benchmark’s analyst highlighted the company’s strategic plans and the potential for market penetration as reasons for maintaining the Speculative Buy rating and the $1.25 price target, while other analysts see potential upside with targets ranging up to $3.00. The price target is based on a projection of 5 times the company’s anticipated 2030 revenue of $26 million, discounted back to the end of 2025 using an 8.8% weighted average cost of capital, according to the analyst’s financial model. For deeper insights into MLSS’s valuation and growth prospects, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Milestone Scientific has appointed Shanth Thiyagalingam to its Board of Directors. Thiyagalingam brings over two decades of experience in the medical device and pharmaceutical sectors, which is expected to support the company’s expansion strategies. Milestone Scientific is focusing on increasing adoption of its CompuFlo® Epidural System, leveraging favorable Medicare Part B payment rates and a Federal Supply Schedule contract. Meanwhile, Benchmark analysts have maintained their Buy rating on the company, with a price target of $1.25. The analysts highlighted Milestone Scientific’s progress in the Medicare market segment for pain management, noting that the CompuFlo System has gained coverage from three out of the 12 Medicare Administrative Contractors. The company aims to further expand its reach by securing coverage from the remaining nine MACs and pursuing reimbursement from private payors. Milestone Scientific ended the fourth quarter with $3.3 million in cash and no outstanding debt. Management has expressed optimism for 2025, given the strong performance in the initial quarter.
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