Satellos Bioscience Inc. (NASDAQ:MSLE) Stock Now Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Analysts give Satellos Bioscience a “Moderate Buy” consensus: Six of eight analysts rate the stock a buy, while one rates it a hold and one a sell. The average 12-month price target is $20.60, with targets ranging from $18 to $24.
• The stock opened at $6.63, well below its 52-week high of $13.39, while the company reported a quarterly loss of $0.56 per share that was worse than the expected $0.38 loss.
• Stonepine Capital Management increased its stake by 391.6% in the second quarter, owning approximately 2.36% of Satellos Bioscience. The biotechnology company is developing SAT-3247, an investigational therapy for muscle-wasting disorders including Duchenne muscular dystrophy.

Shares of Satellos Bioscience Inc. (NASDAQ:MSLE - Get Free Report) have earned an average recommendation of "Moderate Buy" from the eight research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $20.60.

A number of analysts recently weighed in on the stock. HC Wainwright reiterated a "buy" rating and issued a $18.00 price target on shares of Satellos Bioscience in a research report on Monday, August 17th. Wells Fargo & Company set a $18.00 target price on shares of Satellos Bioscience in a research note on Thursday, July 9th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Satellos Bioscience in a report on Friday, August 7th. Finally, Craig Hallum started coverage on Satellos Bioscience in a research note on Thursday, October 8th. They issued a "buy" rating and a $24.00 target price for the company.

Satellos Bioscience Price Performance

Shares of Satellos Bioscience stock opened at $6.63 on Friday. The firm has a market cap of $140.69 million, a P/E ratio of -3.45 and a beta of 1.51. The firm has a 50 day simple moving average of $8.66 and a 200 day simple moving average of $8.02. Satellos Bioscience has a fifty-two week low of $5.30 and a fifty-two week high of $13.39.

Satellos Bioscience (NASDAQ:MSLE - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.18). On average, sell-side analysts expect that Satellos Bioscience will post -1.86 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Satellos Bioscience stock. Stonepine Capital Management LLC increased its stake in Satellos Bioscience Inc. (NASDAQ:MSLE - Free Report) by 391.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 491,624 shares of the company's stock after purchasing an additional 391,624 shares during the period. Satellos Bioscience makes up 0.0% of Stonepine Capital Management LLC's holdings, making the stock its 16th largest position. Stonepine Capital Management LLC owned approximately 2.36% of Satellos Bioscience worth $3,723,291 as of its most recent filing with the Securities and Exchange Commission.

Satellos Bioscience Company Profile

Satellos Bioscience Corporation NASDAQ: MSLE is a biotechnology company focused on developing therapies that promote the natural regeneration and repair of skeletal muscle. Its research is based on the role of muscle stem cells, also known as satellite cells, in maintaining and rebuilding muscle tissue after injury or disease.

The company's lead program is SAT-3247, an investigational small-molecule therapy being developed for muscle-wasting disorders, including Duchenne muscular dystrophy.

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