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

Research analysts at StockNews.com initiated coverage on shares of Cytosorbents (NASDAQ:CTSO) in a research report issued to clients and investors on Saturday. The firm set a “hold” rating on the medical research company’s stock.

A number of other equities analysts have also weighed in on CTSO. EF Hutton Acquisition Co. I raised shares of Cytosorbents to a “strong-buy” rating in a research report on Monday, July 29th. HC Wainwright reiterated a “neutral” rating and issued a $1.00 price target on shares of Cytosorbents in a report on Wednesday, August 14th. Finally, B. Riley restated a “buy” rating and set a $3.00 price objective on shares of Cytosorbents in a report on Wednesday, May 15th.

Cytosorbents Trading Up 1.0 %

Shares of Cytosorbents stock opened at $1.03 on Friday. The business has a 50 day moving average price of $1.03 and a 200 day moving average price of $0.94. The company has a market capitalization of $55.94 million, a P/E ratio of -1.75 and a beta of 0.50. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.12 and a quick ratio of 1.71. Cytosorbents has a 1 year low of $0.70 and a 1 year high of $2.55.

Cytosorbents (NASDAQ:CTSO) last issued its quarterly earnings data on Tuesday, August 13th. The medical research company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.01. The business had revenue of $9.89 million for the quarter, compared to the consensus estimate of $9.73 million. Cytosorbents had a negative return on equity of 131.84% and a negative net margin of 68.70%. During the same period in the prior year, the business earned ($0.14) earnings per share. Sell-side analysts anticipate that Cytosorbents will post -0.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Cytosorbents

Several hedge funds have recently modified their holdings of the stock. Key Client Fiduciary Advisors LLC raised its stake in Cytosorbents by 188.0% during the first quarter. Key Client Fiduciary Advisors LLC now owns 34,557 shares of the medical research company’s stock worth $33,000 after purchasing an additional 22,557 shares during the period. CM Management LLC raised its position in shares of Cytosorbents by 98.8% in the 1st quarter. CM Management LLC now owns 825,000 shares of the medical research company’s stock worth $784,000 after buying an additional 410,000 shares during the period. Sargent Investment Group LLC increased its position in Cytosorbents by 4.9% during the 2nd quarter. Sargent Investment Group LLC now owns 1,433,500 shares of the medical research company’s stock worth $1,008,000 after purchasing an additional 67,181 shares in the last quarter. Neuberger Berman Group LLC grew its stake in Cytosorbents by 19.9% during the fourth quarter. Neuberger Berman Group LLC now owns 1,801,799 shares of the medical research company’s stock worth $1,997,000 after buying an additional 299,103 shares during the period. Finally, Avenir Corp increased its position in shares of Cytosorbents by 12.3% in the fourth quarter. Avenir Corp now owns 3,051,402 shares of the medical research company’s stock worth $3,387,000 after acquiring an additional 334,005 shares in the last quarter. 32.87% of the stock is owned by institutional investors and hedge funds.

Cytosorbents Company Profile

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.