Maxim Group restated their buy rating on shares of Cytosorbents Corporation (NASDAQ:CTSO) in a research report sent to investors on Friday morning. The firm currently has a $12.00 target price on the medical research company’s stock.
“CytoSorbents reported 3Q17 with revenue of $3.8M ($3.4M in product sales and $375K in grant income) and spent $5.9M in the quarter for a net loss of $2M. CytoSorb sales continue to rise with 11% sequential growth (61% YoY). The increase in product revenue was driven by an increase in direct sales to both new customers and repeat orders from existing customers, as well as increased sales to distributers. The company did not provide guidance, but reiterated it expects 2H17 sales to exceed 1H17. CytoSorbents ended the period with $15.4M in cash.”,” Maxim Group’s analyst wrote.
Several other equities research analysts have also recently weighed in on the company. ValuEngine cut Cytosorbents Corporation from a hold rating to a sell rating in a research note on Monday, October 2nd. HC Wainwright restated a buy rating and set a $13.00 target price on shares of Cytosorbents Corporation in a research note on Tuesday, September 26th. B. Riley restated a buy rating and set a $11.25 target price on shares of Cytosorbents Corporation in a research note on Saturday, August 12th. Finally, Aegis restated a buy rating and set a $9.00 target price on shares of Cytosorbents Corporation in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $10.45.
Cytosorbents Corporation (CTSO) traded up $0.05 during midday trading on Friday, reaching $6.25. The company’s stock had a trading volume of 143,900 shares, compared to its average volume of 131,151. The company has a debt-to-equity ratio of 1.00, a current ratio of 3.17 and a quick ratio of 3.03. Cytosorbents Corporation has a 12-month low of $3.30 and a 12-month high of $6.70.
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Several institutional investors and hedge funds have recently made changes to their positions in CTSO. Skylands Capital LLC lifted its stake in shares of Cytosorbents Corporation by 87.7% in the 2nd quarter. Skylands Capital LLC now owns 594,250 shares of the medical research company’s stock valued at $2,555,000 after acquiring an additional 277,650 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Cytosorbents Corporation by 145.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 38,000 shares of the medical research company’s stock valued at $163,000 after acquiring an additional 22,500 shares during the last quarter. Finally, Fortaleza Asset Management Inc. lifted its stake in shares of Cytosorbents Corporation by 81.6% in the 3rd quarter. Fortaleza Asset Management Inc. now owns 23,375 shares of the medical research company’s stock valued at $145,000 after acquiring an additional 10,500 shares during the last quarter. Institutional investors own 6.56% of the company’s stock.
Cytosorbents Corporation Company Profile
CytoSorbents Corporation is a critical care focused immunotherapy company. The Company is engaged in commercializing its product, CytoSorb, which is a blood purification technology with focus in preventing or treating multiple organ failure. The Company’s purification technologies are based on biocompatible, porous polymer beads that remove toxic substances from blood and other bodily fluids by pore capture and surface adsorption.
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