Analysts expect Cytosorbents Corp (NASDAQ:CTSO) to post sales of $9.46 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Cytosorbents’ earnings, with estimates ranging from $8.91 million to $10.00 million. Cytosorbents posted sales of $6.10 million in the same quarter last year, which suggests a positive year-over-year growth rate of 55.1%. The firm is expected to announce its next quarterly earnings report on Tuesday, November 3rd.
On average, analysts expect that Cytosorbents will report full year sales of $37.48 million for the current financial year, with estimates ranging from $35.08 million to $38.62 million. For the next year, analysts anticipate that the company will post sales of $51.61 million, with estimates ranging from $41.02 million to $69.37 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Cytosorbents.
Cytosorbents (NASDAQ:CTSO) last issued its quarterly earnings results on Tuesday, August 4th. The medical research company reported ($0.08) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.08). The firm had revenue of $9.80 million during the quarter, compared to the consensus estimate of $9.79 million. Cytosorbents had a negative return on equity of 122.99% and a negative net margin of 53.56%.
Several research firms have recently issued reports on CTSO. ValuEngine raised Cytosorbents from a “hold” rating to a “buy” rating in a research note on Monday, August 3rd. SVB Leerink began coverage on Cytosorbents in a research note on Tuesday, September 1st. They issued an “outperform” rating and a $15.00 price objective for the company. B. Riley reaffirmed a “buy” rating on shares of Cytosorbents in a research note on Thursday, July 23rd. Finally, BidaskClub lowered Cytosorbents from a “buy” rating to a “hold” rating in a research note on Tuesday, August 25th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Cytosorbents has an average rating of “Buy” and a consensus target price of $15.20.
Shares of CTSO traded down $0.25 during trading hours on Thursday, reaching $7.46. 487,231 shares of the company’s stock traded hands, compared to its average volume of 399,424. The stock has a market cap of $321.96 million, a PE ratio of -14.35 and a beta of 0.48. Cytosorbents has a 12 month low of $3.49 and a 12 month high of $11.74. The firm’s 50 day simple moving average is $9.27 and its 200-day simple moving average is $8.39. The company has a current ratio of 2.68, a quick ratio of 2.55 and a debt-to-equity ratio of 0.38.
Several hedge funds have recently modified their holdings of CTSO. Raymond James & Associates lifted its stake in shares of Cytosorbents by 53.4% during the 1st quarter. Raymond James & Associates now owns 219,800 shares of the medical research company’s stock worth $1,699,000 after acquiring an additional 76,500 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Cytosorbents by 1.8% during the 1st quarter. BlackRock Inc. now owns 2,096,648 shares of the medical research company’s stock worth $16,207,000 after acquiring an additional 37,046 shares during the last quarter. SG Americas Securities LLC purchased a new position in Cytosorbents during the 1st quarter worth $83,000. Eudaimonia Partners LLC purchased a new position in Cytosorbents during the 1st quarter worth $54,000. Finally, Bank of New York Mellon Corp increased its holdings in Cytosorbents by 31.7% during the 1st quarter. Bank of New York Mellon Corp now owns 158,974 shares of the medical research company’s stock worth $1,229,000 after purchasing an additional 38,293 shares during the period. 26.11% of the stock is owned by hedge funds and other institutional investors.
Cytosorbents Company Profile
Cytosorbents Corporation, a critical care focused immunotherapy company, engages in the research, development, and commercialization of medical devices with its blood purification technology platform incorporating a proprietary adsorbent and porous polymer technology worldwide. The company's flagship product is CytoSorb device, an extracorporeal cytokine filter designed for the adjunctive therapy in the treatment of sepsis; adjunctive therapy in other critical care applications; prevention and treatment of post-operative complications of cardiopulmonary bypass surgery; and prevention and treatment of organ dysfunction in brain-dead organ donors to increase the number and quality of viable organs harvested from donors.
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