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

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

A number of other research firms have also commented on CTSO. HC Wainwright restated a “neutral” rating and issued a $1.00 price target on shares of Cytosorbents in a research report on Thursday, April 3rd. D. Boral Capital reaffirmed a “buy” rating and set a $10.00 price target on shares of Cytosorbents in a report on Tuesday, April 1st. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $4.67.

Cytosorbents Price Performance

Shares of Cytosorbents stock opened at $1.03 on Friday. Cytosorbents has a twelve month low of $0.70 and a twelve month high of $1.61. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.58 and a current ratio of 1.97. The firm has a market cap of $64.38 million, a P/E ratio of -2.86 and a beta of 1.17. The firm’s 50-day simple moving average is $1.06 and its 200-day simple moving average is $1.01.

Cytosorbents (NASDAQ:CTSO) last issued its earnings results on Monday, March 31st. The medical research company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.04. Cytosorbents had a negative return on equity of 118.54% and a negative net margin of 49.47%. The business had revenue of $9.20 million during the quarter, compared to analysts’ expectations of $10.09 million. As a group, research analysts expect that Cytosorbents will post -0.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Cytosorbents

Large investors have recently made changes to their positions in the company. Millennium Management LLC acquired a new position in Cytosorbents during the 4th quarter valued at about $30,000. Key Client Fiduciary Advisors LLC boosted its stake in Cytosorbents by 127.0% in the first quarter. Key Client Fiduciary Advisors LLC now owns 78,457 shares of the medical research company’s stock valued at $78,000 after acquiring an additional 43,900 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Cytosorbents by 10.6% during the 4th quarter. Renaissance Technologies LLC now owns 88,020 shares of the medical research company’s stock worth $80,000 after acquiring an additional 8,400 shares during the period. Northern Trust Corp lifted its stake in shares of Cytosorbents by 22.3% in the 4th quarter. Northern Trust Corp now owns 91,560 shares of the medical research company’s stock valued at $83,000 after purchasing an additional 16,701 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Cytosorbents during the fourth quarter worth $99,000. Institutional investors and hedge funds own 32.87% of the company’s stock.

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.