Analysts Anticipate Cytosorbents Corp (CTSO) Will Post Quarterly Sales of $4.23 Million
Wall Street brokerages expect Cytosorbents Corp (NASDAQ:CTSO) to post sales of $4.23 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Cytosorbents’ earnings, with the highest sales estimate coming in at $4.44 million and the lowest estimate coming in at $3.85 million. Cytosorbents reported sales of $3.08 million during the same quarter last year, which indicates a positive year-over-year growth rate of 37.3%. The business is scheduled to issue its next quarterly earnings report on Friday, March 2nd.
According to Zacks, analysts expect that Cytosorbents will report full-year sales of $4.23 million for the current year, with estimates ranging from $14.35 million to $14.95 million. For the next year, analysts anticipate that the firm will post sales of $20.66 million per share, with estimates ranging from $19.12 million to $21.60 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Cytosorbents.
Several analysts recently issued reports on CTSO shares. ValuEngine upgraded Cytosorbents from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. HC Wainwright reiterated a “buy” rating and set a $13.00 target price on shares of Cytosorbents in a research report on Tuesday, November 21st. B. Riley reiterated a “buy” rating and set a $11.25 target price on shares of Cytosorbents in a research report on Friday, November 10th. Finally, Maxim Group set a $12.00 target price on Cytosorbents and gave the stock a “buy” rating in a research report on Thursday, October 19th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Cytosorbents has an average rating of “Buy” and a consensus target price of $10.45.
In related news, COO Vincent Capponi sold 4,000 shares of the stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $7.00, for a total transaction of $28,000.00. Following the completion of the sale, the chief operating officer now owns 271,062 shares in the company, valued at $1,897,434. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.60% of the company’s stock.
Several large investors have recently added to or reduced their stakes in CTSO. PNC Financial Services Group Inc. grew its position in shares of Cytosorbents by 145.2% during the second quarter. PNC Financial Services Group Inc. now owns 38,000 shares of the medical research company’s stock worth $163,000 after purchasing an additional 22,500 shares in the last quarter. Fortaleza Asset Management Inc. grew its holdings in Cytosorbents by 81.6% during the 3rd quarter. Fortaleza Asset Management Inc. now owns 23,375 shares of the medical research company’s stock valued at $145,000 after buying an additional 10,500 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC purchased a new position in Cytosorbents during the 3rd quarter valued at approximately $365,000. Hedge funds and other institutional investors own 8.65% of the company’s stock.
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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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