FY2024 EPS Forecast for Cytosorbents Decreased by Analyst

Cytosorbents Co. (NASDAQ:CTSO) – Stock analysts at HC Wainwright lowered their FY2024 earnings estimates for Cytosorbents in a research report issued on Monday, November 11th. HC Wainwright analyst S. Lee now forecasts that the medical research company will post earnings of ($0.30) per share for the year, down from their prior forecast of ($0.29). HC Wainwright has a “Neutral” rating and a $1.00 price objective on the stock. The consensus estimate for Cytosorbents’ current full-year earnings is ($0.32) per share. HC Wainwright also issued estimates for Cytosorbents’ Q4 2024 earnings at ($0.07) EPS, Q1 2025 earnings at ($0.06) EPS, Q2 2025 earnings at ($0.05) EPS, Q3 2025 earnings at ($0.04) EPS, Q4 2025 earnings at ($0.04) EPS, FY2025 earnings at ($0.20) EPS, FY2026 earnings at ($0.14) EPS and FY2027 earnings at ($0.12) EPS.

Cytosorbents (NASDAQ:CTSO) last issued its quarterly earnings data 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. Cytosorbents had a negative net margin of 49.47% and a negative return on equity of 118.54%. The business had revenue of $9.89 million for the quarter, compared to analysts’ expectations of $9.73 million. During the same period in the previous year, the business earned ($0.14) earnings per share.

A number of other research analysts have also issued reports on the company. EF Hutton Acquisition Co. I raised Cytosorbents to a “strong-buy” rating in a report on Monday, July 29th. StockNews.com initiated coverage on Cytosorbents in a report on Sunday, November 10th. They set a “hold” rating on the stock.

Cytosorbents Price Performance

NASDAQ:CTSO opened at $0.90 on Thursday. The business’s 50-day moving average price is $1.12 and its 200 day moving average price is $1.01. The firm has a market cap of $48.94 million, a P/E ratio of -2.49 and a beta of 0.56. Cytosorbents has a 52-week low of $0.70 and a 52-week high of $2.15. The company has a quick ratio of 1.71, a current ratio of 1.97 and a debt-to-equity ratio of 1.06.

Institutional Investors Weigh In On Cytosorbents

Several institutional investors and hedge funds have recently added to or reduced their stakes in CTSO. Atomi Financial Group Inc. acquired a new stake in Cytosorbents in the 3rd quarter worth approximately $51,000. CM Management LLC lifted its holdings in Cytosorbents by 3.0% in the 2nd quarter. CM Management LLC now owns 850,000 shares of the medical research company’s stock worth $598,000 after purchasing an additional 25,000 shares during the last quarter. Sargent Investment Group LLC lifted its holdings in shares of Cytosorbents by 4.9% during the second quarter. Sargent Investment Group LLC now owns 1,433,500 shares of the medical research company’s stock worth $1,008,000 after buying an additional 67,181 shares during the last quarter. Finally, Avenir Corp lifted its holdings in shares of Cytosorbents by 4.0% during the first quarter. Avenir Corp now owns 3,172,696 shares of the medical research company’s stock worth $3,014,000 after buying an additional 121,294 shares during the last quarter. 32.87% of the stock is currently owned by institutional investors and hedge funds.

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.