$3.29 Million in Sales Expected for Cytosorbents Corporation (CTSO) This Quarter
Brokerages expect Cytosorbents Corporation (NASDAQ:CTSO) to post $3.29 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Cytosorbents Corporation’s earnings, with the lowest sales estimate coming in at $3.19 million and the highest estimate coming in at $3.43 million. Cytosorbents Corporation posted sales of $2.22 million in the same quarter last year, which suggests a positive year over year growth rate of 48.2%. The business is scheduled to issue its next quarterly earnings report on Tuesday, August 8th.
According to Zacks, analysts expect that Cytosorbents Corporation will report full year sales of $3.29 million for the current year, with estimates ranging from $13.65 million to $14.36 million. For the next fiscal year, analysts forecast that the company will post sales of $22.52 million per share, with estimates ranging from $19.12 million to $28.00 million. Zacks’ sales averages are an average based on a survey of analysts that cover Cytosorbents Corporation.
Cytosorbents Corporation (NASDAQ:CTSO) last announced its quarterly earnings results on Monday, May 8th. The medical research company reported ($0.05) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.06. The business had revenue of $3.11 million during the quarter, compared to the consensus estimate of $2.99 million. Cytosorbents Corporation had a negative net margin of 108.69% and a negative return on equity of 1,426.21%.
Several brokerages have commented on CTSO. Maxim Group reiterated a “buy” rating and issued a $10.00 price target on shares of Cytosorbents Corporation in a research report on Wednesday, March 22nd. B. Riley reiterated a “buy” rating and issued a $11.25 price target on shares of Cytosorbents Corporation in a research report on Saturday, March 11th. Finally, Aegis reiterated a “buy” rating and issued a $9.00 price target on shares of Cytosorbents Corporation in a research report on Tuesday, May 9th. Six research analysts have rated the stock with a buy rating, Cytosorbents Corporation has a consensus rating of “Buy” and a consensus target price of $12.38.
In related news, insider Phillip P. Chan acquired 6,300 shares of the business’s stock in a transaction on Monday, June 5th. The shares were purchased at an average price of $4.00 per share, for a total transaction of $25,200.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have acquired 17,500 shares of company stock worth $70,620. Corporate insiders own 5.60% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Skylands Capital LLC increased its stake in Cytosorbents Corporation by 1,276.5% in the first quarter. Skylands Capital LLC now owns 316,600 shares of the medical research company’s stock valued at $1,425,000 after buying an additional 293,600 shares during the last quarter. Segantii Capital Management Ltd increased its stake in Cytosorbents Corporation by 563.4% in the first quarter. Segantii Capital Management Ltd now owns 27,200 shares of the medical research company’s stock valued at $122,000 after buying an additional 23,100 shares during the last quarter. Cowen Group Inc. bought a new stake in Cytosorbents Corporation during the first quarter valued at about $248,000. Finally, Sabby Management LLC bought a new stake in Cytosorbents Corporation during the first quarter valued at about $990,000. Hedge funds and other institutional investors own 8.75% of the company’s stock.
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Cytosorbents Corporation (CTSO) opened at 4.35 on Friday. The stock has a 50 day moving average of $4.11 and a 200-day moving average of $5.02. The stock’s market cap is $122.27 million. Cytosorbents Corporation has a one year low of $3.30 and a one year high of $6.90.
About Cytosorbents Corporation
CytoSorbents Corporation is a critical care focused immunotherapy company. The Company is engaged in commercializing its product, CytoSorb, which is a blood purification technology with focus in preventing or treating multiple organ failure. The Company’s purification technologies are based on biocompatible, porous polymer beads that remove toxic substances from blood and other bodily fluids by pore capture and surface adsorption.
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