Analysts forecast that Cytosorbents Corp (NASDAQ:CTSO) will post sales of $6.33 million for the current quarter, Zacks reports. Four analysts have issued estimates for Cytosorbents’ earnings. The highest sales estimate is $6.61 million and the lowest is $6.10 million. Cytosorbents posted sales of $4.65 million during the same quarter last year, which suggests a positive year-over-year growth rate of 36.1%. The business is expected to report its next quarterly earnings report on Thursday, March 14th.
According to Zacks, analysts expect that Cytosorbents will report full-year sales of $22.74 million for the current financial year, with estimates ranging from $22.50 million to $23.03 million. For the next financial year, analysts anticipate that the business will post sales of $31.95 million, with estimates ranging from $27.68 million to $35.54 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Cytosorbents.
Cytosorbents (NASDAQ:CTSO) last released its earnings results on Wednesday, November 7th. The medical research company reported ($0.10) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.04. Cytosorbents had a negative return on equity of 90.18% and a negative net margin of 70.97%. The company had revenue of $5.74 million for the quarter, compared to analysts’ expectations of $5.79 million.
A number of research firms have weighed in on CTSO. HC Wainwright set a $15.00 target price on Cytosorbents and gave the company a “buy” rating in a report on Wednesday, November 7th. BidaskClub lowered Cytosorbents from a “strong-buy” rating to a “buy” rating in a report on Friday, September 14th. Finally, Maxim Group reaffirmed a “buy” rating and set a $18.00 target price on shares of Cytosorbents in a report on Tuesday, September 4th. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $14.81.
Hedge funds have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. purchased a new position in Cytosorbents during the 2nd quarter valued at about $682,000. P.A.W. Capital Corp purchased a new position in shares of Cytosorbents during the third quarter worth about $129,000. Mycio Wealth Partners LLC purchased a new position in shares of Cytosorbents during the third quarter worth about $166,000. EAM Global Investors LLC purchased a new position in shares of Cytosorbents during the second quarter worth about $1,366,000. Finally, BlackRock Inc. grew its holdings in shares of Cytosorbents by 1,156.8% during the second quarter. BlackRock Inc. now owns 1,706,847 shares of the medical research company’s stock worth $19,459,000 after purchasing an additional 1,571,041 shares in the last quarter. 25.87% of the stock is owned by institutional investors and hedge funds.
Cytosorbents stock traded down $0.35 during midday trading on Friday, reaching $9.31. The stock had a trading volume of 202,986 shares, compared to its average volume of 238,243. Cytosorbents has a 12 month low of $5.80 and a 12 month high of $14.95. The stock has a market capitalization of $314.62 million, a P/E ratio of -29.09 and a beta of 0.53. The company has a debt-to-equity ratio of 0.49, a quick ratio of 6.85 and a current ratio of 7.03.
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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