This study investigates a communication-centric integrated sensing and communication (ISAC) system that utilizes orthogonal time frequency space (OTFS) modulated signals emitted by low Earth orbit (LEO) satellites to estimate the parameters of space targets experiencing range migration, henceforth referred to as high-speed targets. Leveraging the specific signal processing performed by OTFS transceivers, we derive a novel input-output model for the echo generated by a high-speed target in scenarios where ideal and rectangular shaping filters are employed. Our findings reveal that the target response exhibits a sparse structure in the delay-Doppler domain, dependent solely upon the initial range and range-rate; notably, range migration causes a spread in the target response, marking a significant departure from previous studies. Utilizing this signal structure, we propose an approximate implementation of the maximum likelihood estimator for the target's initial range, range-rate, and amplitude. The estimation process involves obtaining coarse information on the target response using a block orthogonal matching pursuit algorithm, followed by a refinement step using a bank of matched filters focused on a smaller range and range-rate region. Finally, numerical examples are provided to evaluate the estimation performance.