HC Wainwright Forecasts Strong Price Appreciation for Satellos Bioscience (NASDAQ:MSLE) Stock

Key Points

• HC Wainwright raised its price target on Satellos Bioscience to $18 from $11 and kept a buy rating, implying about 100% upside from the prior close.
• Other analysts remain generally positive on NASDAQ:MSLE, with multiple firms issuing buy-equivalent ratings and the consensus view landing at Moderate Buy with a target of $20.33.
• Despite the bullish analyst sentiment, Satellos recently missed quarterly EPS estimates and the stock was trading at $8.98, below its recent 52-week high of $13.39.

Satellos Bioscience (NASDAQ:MSLE - Get Free Report) had its price target boosted by analysts at HC Wainwright from $11.00 to $18.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. HC Wainwright's price objective would suggest a potential upside of 100.45% from the company's previous close.

MSLE has been the topic of a number of other reports. Canaccord Genuity Group upgraded shares of Satellos Bioscience to a "moderate buy" rating in a research note on Thursday, May 21st. Leerink Partners initiated coverage on shares of Satellos Bioscience in a research note on Monday, April 6th. They issued an "outperform" rating and a $20.00 price objective for the company. Wall Street Zen upgraded shares of Satellos Bioscience from a "strong sell" rating to a "sell" rating in a report on Saturday, May 16th. Guggenheim started coverage on shares of Satellos Bioscience in a research note on Tuesday, April 28th. They set a "buy" rating and a $23.00 target price on the stock. Finally, Cantor Fitzgerald assumed coverage on shares of Satellos Bioscience in a research note on Wednesday, March 11th. They set an "overweight" rating on the stock. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.33.

Satellos Bioscience Stock Performance

MSLE opened at $8.98 on Thursday. Satellos Bioscience has a 52 week low of $4.64 and a 52 week high of $13.39. The stock's fifty day moving average price is $6.90. The stock has a market capitalization of $187.05 million, a price-to-earnings ratio of -5.61 and a beta of 1.53.

Satellos Bioscience (NASDAQ:MSLE - Get Free Report) last posted its quarterly earnings data on Friday, May 15th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.02). Research analysts expect that Satellos Bioscience will post -1.69 earnings per share for the current year.

Satellos Bioscience Company Profile

Satellos Bioscience Inc is a regenerative medicine company dedicated to developing novel therapeutics which stimulate or restore muscle regeneration in severe disorders. The company's lead program is focused on developing an oral therapeutic drug for Duchenne muscular dystrophy. Satellos Bioscience Inc, formerly known as iCo Therapeutics Inc, is based in Toronto, Ontario.

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