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

StockNews.com assumed coverage on shares of Cytosorbents (NASDAQ:CTSO) in a research note issued to investors on Monday morning. The firm issued a hold rating on the medical research company’s stock.

A number of other equities analysts have also recently weighed in on the company. HC Wainwright restated a “neutral” rating and issued a $1.00 price target on shares of Cytosorbents in a 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 Friday. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.67.

Cytosorbents Trading Down 3.4 %

Shares of CTSO stock opened at $0.91 on Monday. The company has a quick ratio of 1.58, a current ratio of 1.97 and a debt-to-equity ratio of 1.06. Cytosorbents has a fifty-two week low of $0.70 and a fifty-two week high of $1.61. The firm’s 50 day moving average price is $1.03 and its two-hundred day moving average price is $1.00. The stock has a market cap of $56.84 million, a price-to-earnings ratio of -2.52 and a beta of 1.17.

Cytosorbents (NASDAQ:CTSO) last announced its quarterly earnings results on Monday, March 31st. The medical research company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.04. The firm had revenue of $9.20 million during the quarter, compared to the consensus estimate of $10.09 million. Cytosorbents had a negative return on equity of 118.54% and a negative net margin of 49.47%. On average, analysts anticipate that Cytosorbents will post -0.3 EPS for the current year.

Hedge Funds Weigh In On Cytosorbents

Institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in Cytosorbents by 7.5% in the third quarter. Geode Capital Management LLC now owns 467,058 shares of the medical research company’s stock valued at $701,000 after acquiring an additional 32,415 shares in the last quarter. Skylands Capital LLC raised its position in shares of Cytosorbents by 1.0% during the 4th quarter. Skylands Capital LLC now owns 2,781,622 shares of the medical research company’s stock valued at $2,531,000 after acquiring an additional 26,195 shares in the last quarter. Raymond James Financial Inc. bought a new position in Cytosorbents during the fourth quarter worth $99,000. Renaissance Technologies LLC boosted its holdings in Cytosorbents by 10.6% in the fourth quarter. Renaissance Technologies LLC now owns 88,020 shares of the medical research company’s stock worth $80,000 after purchasing an additional 8,400 shares during the period. Finally, Avenir Corp increased its stake in Cytosorbents by 4.0% during the fourth quarter. Avenir Corp now owns 3,093,946 shares of the medical research company’s stock valued at $2,815,000 after purchasing an additional 118,387 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.