StockNews.com Initiates Coverage on Cytosorbents (NASDAQ:CTSO)

Equities research analysts at StockNews.com assumed coverage on shares of Cytosorbents (NASDAQ:CTSO) in a report released on Wednesday. The brokerage set a “hold” rating on the medical research company’s stock.

A number of other research firms have also recently commented on CTSO. HC Wainwright reiterated a “neutral” rating and issued a $1.00 price objective on shares of Cytosorbents in a research report on Monday, November 11th. D. Boral Capital reiterated a “buy” rating and set a $10.00 price target on shares of Cytosorbents in a report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $4.67.

Cytosorbents Stock Performance

CTSO opened at $0.99 on Wednesday. Cytosorbents has a twelve month low of $0.70 and a twelve month high of $1.59. The firm has a market capitalization of $54.13 million, a PE ratio of -2.75 and a beta of 0.58. The company has a current ratio of 1.97, a quick ratio of 1.58 and a debt-to-equity ratio of 1.06. The firm’s 50-day moving average price is $0.95 and its 200 day moving average price is $1.04.

Cytosorbents (NASDAQ:CTSO) last announced its quarterly earnings data on Thursday, November 7th. The medical research company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The company had revenue of $9.39 million for the quarter, compared to analysts’ expectations of $10.14 million. Cytosorbents had a negative return on equity of 118.54% and a negative net margin of 49.47%. During the same quarter in the previous year, the business posted ($0.21) EPS. As a group, sell-side analysts expect that Cytosorbents will post -0.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Sargent Investment Group LLC grew its stake in shares of Cytosorbents by 13.4% in the third quarter. Sargent Investment Group LLC now owns 1,626,247 shares of the medical research company’s stock valued at $2,439,000 after buying an additional 192,747 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Cytosorbents by 7.5% during the 3rd quarter. Geode Capital Management LLC now owns 467,058 shares of the medical research company’s stock valued at $701,000 after acquiring an additional 32,415 shares during the period. Finally, Atomi Financial Group Inc. acquired a new position in Cytosorbents in the 3rd quarter valued at about $51,000. 32.87% of the stock is currently owned by institutional investors and hedge funds.

About Cytosorbents

Cytosorbents Corporation engages in the research, development, and commercialization of medical devices with its blood purification technology platform incorporating a proprietary adsorbent and porous polymer technology in the United States, Germany, and internationally. Its flagship product is CytoSorb, an extracorporeal cytokine adsorber for adjunctive therapy in the treatment of sepsis, adjunctive therapy in other critical care applications, prevention, and treatment of perioperative complications, and maintaining or enhancing the quality of solid organs harvested from donors for organ transplant; and offers VetResQ, a device for adjunctive therapy in the treatment of sepsis, pancreatitis, and other critical illnesses in animals.