B. Riley Reaffirms Buy Rating for Cytosorbents Corporation (NASDAQ:CTSO)
Cytosorbents Corporation (NASDAQ:CTSO)‘s stock had its “buy” rating reaffirmed by analysts at B. Riley in a research report issued to clients and investors on Saturday. They presently have a $11.25 price objective on the medical research company’s stock. B. Riley’s target price indicates a potential upside of 144.57% from the stock’s current price.
Several other research analysts have also recently issued reports on the company. HC Wainwright set a $13.00 price objective on Cytosorbents Corporation and gave the stock a “buy” rating in a research report on Tuesday. Maxim Group upped their target price on Cytosorbents Corporation from $10.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday. Aegis reissued a “buy” rating and issued a $9.00 target price on shares of Cytosorbents Corporation in a report on Tuesday, July 25th. Finally, Cowen and Company assumed coverage on Cytosorbents Corporation in a report on Wednesday, June 7th. They issued an “outperform” rating and a $7.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus target price of $12.71.
Cytosorbents Corporation (NASDAQ:CTSO) traded up 2.22% during trading on Friday, hitting $4.60. 32,971 shares of the stock traded hands. The stock’s market cap is $129.30 million. The firm’s 50-day moving average is $4.73 and its 200-day moving average is $4.85. Cytosorbents Corporation has a 12 month low of $3.30 and a 12 month high of $6.90.
Cytosorbents Corporation (NASDAQ:CTSO) last released its quarterly earnings data on Monday, August 7th. The medical research company reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.02. The firm had revenue of $3.57 million during the quarter, compared to analysts’ expectations of $3.29 million. Cytosorbents Corporation had a negative return on equity of 529.95% and a negative net margin of 80.56%. On average, analysts forecast that Cytosorbents Corporation will post ($0.27) EPS for the current year.
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In other news, insider Phillip P. Chan bought 6,300 shares of the stock in a transaction on Monday, June 5th. The shares were bought at an average price of $4.00 per share, with a total value of $25,200.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired 17,500 shares of company stock worth $70,620 in the last three months. 5.60% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised its stake in Cytosorbents Corporation by 145.2% in the second quarter. PNC Financial Services Group Inc. now owns 38,000 shares of the medical research company’s stock valued at $163,000 after buying an additional 22,500 shares during the period. Skylands Capital LLC raised its stake in Cytosorbents Corporation by 87.7% in the second quarter. Skylands Capital LLC now owns 594,250 shares of the medical research company’s stock valued at $2,555,000 after buying an additional 277,650 shares during the period. Sabby Management LLC purchased a new stake in Cytosorbents Corporation during the first quarter valued at $990,000. Cowen Group Inc. purchased a new stake in Cytosorbents Corporation during the first quarter valued at $248,000. Finally, Segantii Capital Management Ltd raised 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 period. 9.74% of the stock is currently owned by institutional investors.
Cytosorbents Corporation Company Profile
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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