Cytosorbents Corp (NASDAQ:CTSO) – B. Riley boosted their FY2018 earnings estimates for shares of Cytosorbents in a report released on Wednesday, November 7th. B. Riley analyst A. D’silva now expects that the medical research company will post earnings per share of ($0.52) for the year, up from their prior estimate of ($0.57). B. Riley also issued estimates for Cytosorbents’ Q1 2019 earnings at ($0.12) EPS, Q2 2019 earnings at ($0.09) EPS, Q3 2019 earnings at ($0.06) EPS and Q4 2019 earnings at ($0.02) EPS.
Cytosorbents (NASDAQ:CTSO) last released its quarterly earnings results on Wednesday, November 7th. The medical research company reported ($0.10) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.04. The firm had revenue of $5.74 million for the quarter, compared to analyst estimates of $5.79 million. Cytosorbents had a negative net margin of 70.97% and a negative return on equity of 90.18%.
CTSO has been the topic of a number of other reports. BidaskClub lowered shares of Cytosorbents from a “buy” rating to a “hold” rating in a research report on Friday, August 10th. Maxim Group restated a “buy” rating and issued a $18.00 price target on shares of Cytosorbents in a research report on Tuesday, September 4th. HC Wainwright set a $15.00 price target on shares of Cytosorbents and gave the company a “buy” rating in a research report on Wednesday. Finally, Cowen restated a “buy” rating and issued a $15.00 price target on shares of Cytosorbents in a research report on Friday, August 3rd. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company. Cytosorbents has an average rating of “Buy” and an average target price of $14.81.
NASDAQ:CTSO opened at $9.85 on Friday. The stock has a market capitalization of $358.93 million, a price-to-earnings ratio of -30.78 and a beta of 0.62. Cytosorbents has a 12 month low of $5.80 and a 12 month high of $14.95. The company has a current ratio of 7.03, a quick ratio of 8.60 and a debt-to-equity ratio of 0.49.
Several hedge funds and other institutional investors have recently made changes to their positions in CTSO. BlackRock Inc. grew its stake in Cytosorbents by 14.9% during the third quarter. BlackRock Inc. now owns 1,961,749 shares of the medical research company’s stock worth $25,308,000 after buying an additional 254,902 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Cytosorbents by 48.8% during the third quarter. PNC Financial Services Group Inc. now owns 30,500 shares of the medical research company’s stock worth $393,000 after buying an additional 10,000 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Cytosorbents by 14.0% during the third quarter. Bank of New York Mellon Corp now owns 94,814 shares of the medical research company’s stock worth $1,224,000 after buying an additional 11,666 shares in the last quarter. Pitcairn Co. acquired a new stake in Cytosorbents during the third quarter worth about $147,000. Finally, Mycio Wealth Partners LLC acquired a new stake in Cytosorbents during the third quarter worth about $166,000. 24.79% of the stock is owned by institutional investors.
In other Cytosorbents news, COO Vincent Capponi sold 9,565 shares of the business’s stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $13.00, for a total value of $124,345.00. Following the completion of the transaction, the chief operating officer now directly owns 342,333 shares of the company’s stock, valued at $4,450,329. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Al Kraus sold 26,000 shares of the business’s stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $14.47, for a total transaction of $376,220.00. Following the completion of the transaction, the director now directly owns 133,046 shares of the company’s stock, valued at $1,925,175.62. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,501 shares of company stock valued at $927,310. Insiders own 6.90% of the company’s stock.
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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