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

Analysts at StockNews.com assumed coverage on shares of Cytosorbents (NASDAQ:CTSO) in a report issued on Wednesday. The firm set a “hold” rating on the medical research company’s stock.

Separately, HC Wainwright reaffirmed a “neutral” rating and set a $1.00 price target on shares of Cytosorbents in a report on Friday, March 15th.

Cytosorbents Stock Performance

Shares of CTSO stock opened at $0.81 on Wednesday. Cytosorbents has a one year low of $0.78 and a one year high of $4.29. The company’s 50-day moving average is $0.93 and its 200 day moving average is $1.17. The company has a market capitalization of $43.94 million, a price-to-earnings ratio of -1.26 and a beta of 0.58. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.51 and a current ratio of 1.77.

Cytosorbents (NASDAQ:CTSO) last announced its quarterly earnings results on Thursday, March 14th. The medical research company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.02. The firm had revenue of $8.67 million for the quarter, compared to the consensus estimate of $9.29 million. Cytosorbents had a negative net margin of 78.43% and a negative return on equity of 120.24%. Sell-side analysts expect that Cytosorbents will post -0.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Cytosorbents

Several institutional investors have recently made changes to their positions in CTSO. Avenir Corp lifted its stake in shares of Cytosorbents by 12.3% in the 4th quarter. Avenir Corp now owns 3,051,402 shares of the medical research company’s stock worth $3,387,000 after purchasing an additional 334,005 shares during the period. Skylands Capital LLC lifted its stake in shares of Cytosorbents by 10.5% in the 4th quarter. Skylands Capital LLC now owns 3,254,213 shares of the medical research company’s stock worth $3,612,000 after purchasing an additional 309,543 shares during the period. Neuberger Berman Group LLC lifted its stake in shares of Cytosorbents by 19.9% in the 4th quarter. Neuberger Berman Group LLC now owns 1,801,799 shares of the medical research company’s stock worth $1,997,000 after purchasing an additional 299,103 shares during the period. Sargent Investment Group LLC lifted its stake in shares of Cytosorbents by 4.1% in the 4th quarter. Sargent Investment Group LLC now owns 1,308,747 shares of the medical research company’s stock worth $1,453,000 after purchasing an additional 51,699 shares during the period. Finally, Raymond James & Associates bought a new position in shares of Cytosorbents in the 4th quarter worth approximately $56,000. 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.