Cytosorbents (NASDAQ:CTSO) Stock Breaks Below 50 Day Moving Average – What’s Next?

Cytosorbents Corporation (NASDAQ:CTSO) shares passed below its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $4.88 and traded as low as $4.78. Cytosorbents shares last traded at $4.87, with a volume of 10,996 shares trading hands.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Cytosorbents in a research note on Friday, October 2nd. WBB Securities started coverage on shares of Cytosorbents in a research note on Wednesday, October 21st. They set a “speculative buy” rating and a $9.50 price target on the stock. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $104.75.

Cytosorbents Stock Down 9.3%

The firm has a market capitalization of $15.34 million, a price-to-earnings ratio of -0.91 and a beta of 1.49. The firm has a fifty day moving average price of $4.88 and a 200 day moving average price of $9.07. The company has a current ratio of 0.66, a quick ratio of 0.50 and a debt-to-equity ratio of 4.70.

Cytosorbents (NASDAQ:CTSO) last released its quarterly earnings results on Thursday, November 12th. The medical research company reported ($0.58) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.32. Cytosorbents had a negative return on equity of 689.23% and a negative net margin of 45.06%. The firm had revenue of $9.73 million during the quarter, compared to analysts’ expectations of $9.90 million. Sell-side analysts anticipate that Cytosorbents Corporation will post -4.40 EPS for the current fiscal year.

Insider Activity at Cytosorbents

In other Cytosorbents news, CEO Phillip Chan bought 200,000 shares of the stock in a transaction dated Friday, September 4th. The stock was bought at an average cost of $0.35 per share, for a total transaction of $70,000.00. Following the completion of the purchase, the chief executive officer owned 1,944,432 shares in the company, valued at $680,551.20. This represents a 11.47% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 7.80% of the company’s stock.

Cytosorbents Company Profile

Cytosorbents Corp. develops blood-purification technologies for use in hospitals and other clinical settings. Its products are designed to work with extracorporeal circuits, where blood is circulated outside the body and passed through a purification device. The company’s best-known product, CytoSorb, is an adsorber intended to remove certain inflammatory substances and other compounds from blood. It is used in areas such as critical care and cardiac surgery. Cytosorbents also develops DrugSorb-ATR, a device designed to remove certain blood-thinning drugs during cardiac procedures.