Satellos Bioscience (NASDAQ:MSLE) Announces Earnings Results, Misses Expectations By $0.09 EPS

Satellos Bioscience (NASDAQ:MSLE) released its quarterly earnings results on Thursday. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.09), Zacks reports.

Satellos Bioscience Stock Performance

NASDAQ:MSLE traded down $0.15 on Thursday, hitting $6.60. 24,457 shares of the stock were exchanged, compared to its average volume of 56,029. Satellos Bioscience has a 52 week low of $5.30 and a 52 week high of $13.39. The stock has a market capitalization of $140.03 million, a price-to-earnings ratio of -3.44 and a beta of 1.63. The company’s 50-day moving average price is $7.86 and its 200 day moving average price is $8.21.

Wall Street Analyst Weigh In

A number of research firms have commented on MSLE. HC Wainwright reissued a “buy” rating and issued a $18.00 price objective on shares of Satellos Bioscience in a research note on Monday, August 17th. 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. Zacks Research lowered Satellos Bioscience from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 21st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Satellos Bioscience in a report on Wednesday, November 4th. Six research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Satellos Bioscience has an average rating of “Moderate Buy” and a consensus price target of $20.60.

About Satellos Bioscience

Satellos Bioscience Inc. is a biotechnology company focused on developing regenerative medicines for muscle-related diseases and disorders. The company’s research centers on muscle satellite cells, a type of stem cell responsible for repairing and regenerating skeletal muscle after injury or disease. Satellos is developing small-molecule therapies intended to restore or enhance the natural muscle-regeneration process by correcting impaired satellite-cell function. Its lead program, SAT-3247, is being investigated as an orally administered potential treatment for muscle-wasting conditions, including Duchenne muscular dystrophy.