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

Stock analysts at StockNews.com initiated coverage on shares of Cytosorbents (NASDAQ:CTSO) in a note issued to investors on Friday. The brokerage set a “hold” rating on the medical research company’s stock.

A number of other analysts also recently issued reports on CTSO. EF Hutton Acquisition Co. I raised shares of Cytosorbents to a “strong-buy” rating in a research report on Monday, July 29th. HC Wainwright reissued a “neutral” rating and issued a $1.00 price objective on shares of Cytosorbents in a research report on Wednesday, August 14th.

Cytosorbents Price Performance

Shares of CTSO opened at $1.05 on Friday. The firm has a market cap of $57.02 million, a PE ratio of -1.78 and a beta of 0.51. The company has a quick ratio of 1.71, a current ratio of 2.12 and a debt-to-equity ratio of 0.82. The company’s fifty day moving average is $1.16 and its two-hundred day moving average is $1.00. Cytosorbents has a fifty-two week low of $0.70 and a fifty-two week high of $2.15.

Cytosorbents (NASDAQ:CTSO) last issued its earnings results on Tuesday, August 13th. The medical research company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The firm had revenue of $9.89 million for the quarter, compared to analysts’ expectations of $9.73 million. Cytosorbents had a negative return on equity of 131.84% and a negative net margin of 68.70%. During the same quarter last year, the firm earned ($0.14) earnings per share. Analysts forecast that Cytosorbents will post -0.32 earnings per share for the current year.

Institutional Investors Weigh In On Cytosorbents

Large investors have recently modified their holdings of the stock. CM Management LLC lifted its position in Cytosorbents by 98.8% during the 1st quarter. CM Management LLC now owns 825,000 shares of the medical research company’s stock worth $784,000 after acquiring an additional 410,000 shares in the last quarter. Avenir Corp lifted its stake 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 worth $3,014,000 after acquiring an additional 121,294 shares in the last quarter. Sargent Investment Group LLC boosted its holdings in Cytosorbents by 4.9% in the second quarter. Sargent Investment Group LLC now owns 1,433,500 shares of the medical research company’s stock valued at $1,008,000 after purchasing an additional 67,181 shares during the last quarter. Finally, Atomi Financial Group Inc. acquired a new stake in Cytosorbents during the 3rd quarter valued at approximately $51,000. Institutional investors and hedge funds own 32.87% of the company’s stock.

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.