Satellos price target raised to $40 from $5 at Oppenheimer

Oppenheimer raised the firm’s price target on Satellos (MSLE) to $40 from $5 and keeps an Outperform rating on the shares. The firm is updating its model for U.S. listing, and adjusting for 1:12 reverse split and its increase in Duchenne muscular dystrophy market penetration. Oppenheimer sees Satellos as an arbitrage opportunity in DMD space, wherein SAT-3247 Phase II randomized data could move Satellos up 300%-500%/-90%.