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

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

CTSO has been the subject of several other reports. EF Hutton Acquisition Co. I raised shares of Cytosorbents to a “strong-buy” rating in a report on Monday, July 29th. HC Wainwright reaffirmed a “neutral” rating and set a $1.00 target price on shares of Cytosorbents in a report on Wednesday, August 14th.

Cytosorbents Stock Performance

CTSO opened at $1.04 on Friday. The company has a current ratio of 2.12, a quick ratio of 1.71 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $56.48 million, a PE ratio of -1.76 and a beta of 0.51. The firm has a 50 day moving average of $1.16 and a two-hundred day moving average of $1.00. Cytosorbents has a 12-month low of $0.70 and a 12-month high of $2.15.

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

Institutional Investors Weigh In On Cytosorbents

Several institutional investors and hedge funds have recently added to or reduced their stakes in CTSO. CM Management LLC increased its holdings in Cytosorbents by 98.8% in 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 increased its holdings in Cytosorbents by 4.0% in the 1st 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 increased its holdings in Cytosorbents by 4.9% in the 2nd quarter. Sargent Investment Group LLC now owns 1,433,500 shares of the medical research company’s stock worth $1,008,000 after acquiring an additional 67,181 shares in the last quarter. Finally, Atomi Financial Group Inc. purchased a new stake in Cytosorbents in the 3rd quarter worth $51,000. Hedge funds and other institutional investors own 32.87% of the company’s stock.

Cytosorbents Company Profile

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.