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

StockNews.com began coverage on shares of Cytosorbents (NASDAQ:CTSO) in a research note released on Saturday morning. The brokerage issued a hold rating on the medical research company’s stock.

A number of other analysts also recently commented on the company. B. Riley reissued a buy rating and issued a $3.00 price objective on shares of Cytosorbents in a research note on Wednesday, May 15th. HC Wainwright reissued a neutral rating and issued a $1.00 price target on shares of Cytosorbents in a report on Wednesday, August 14th. Finally, EF Hutton Acquisition Co. I upgraded shares of Cytosorbents to a strong-buy rating in a research report on Monday, July 29th.

Cytosorbents Price Performance

Shares of NASDAQ CTSO opened at $1.01 on Friday. The firm’s 50-day simple moving average is $1.04 and its 200 day simple moving average is $0.94. The stock has a market cap of $54.97 million, a P/E ratio of -1.71 and a beta of 0.50. The company has a quick ratio of 1.71, a current ratio of 2.12 and a debt-to-equity ratio of 0.82. Cytosorbents has a fifty-two week low of $0.70 and a fifty-two week high of $2.54.

Cytosorbents (NASDAQ:CTSO) last released its quarterly earnings results on Tuesday, August 13th. The medical research company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. The company had revenue of $9.89 million for the quarter, compared to the consensus estimate of $9.73 million. Cytosorbents had a negative net margin of 68.70% and a negative return on equity of 131.84%. During the same period in the previous year, the firm earned ($0.14) EPS. Equities analysts expect that Cytosorbents will post -0.33 EPS for the current year.

Hedge Funds Weigh In On Cytosorbents

Institutional investors and hedge funds have recently modified their holdings of the stock. Key Client Fiduciary Advisors LLC grew its holdings in Cytosorbents by 188.0% in the 1st quarter. Key Client Fiduciary Advisors LLC now owns 34,557 shares of the medical research company’s stock valued at $33,000 after buying an additional 22,557 shares during the last quarter. CM Management LLC grew its holdings in shares of Cytosorbents by 3.0% during the second quarter. CM Management LLC now owns 850,000 shares of the medical research company’s stock worth $598,000 after purchasing an additional 25,000 shares during the last quarter. Sargent Investment Group LLC increased its position in Cytosorbents by 4.9% in the 2nd quarter. Sargent Investment Group LLC now owns 1,433,500 shares of the medical research company’s stock valued at $1,008,000 after acquiring an additional 67,181 shares in the last quarter. Avenir Corp increased its holdings in shares of Cytosorbents by 4.0% in the first quarter. Avenir Corp now owns 3,172,696 shares of the medical research company’s stock valued at $3,014,000 after purchasing an additional 121,294 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its position in shares of 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 acquiring an additional 299,103 shares during the last quarter. 32.87% of the stock is currently owned by hedge funds and other institutional investors.

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.