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

Equities researchers at StockNews.com started coverage on shares of Cytosorbents (NASDAQ:CTSO) in a research note issued to investors on Tuesday. The firm set a “hold” rating on the medical research company’s stock.

CTSO has been the topic of several other reports. D. Boral Capital reissued a “buy” rating and set a $10.00 price objective on shares of Cytosorbents in a report on Friday, May 2nd. HC Wainwright reissued a “neutral” rating and set a $1.00 price objective on shares of Cytosorbents in a report on Thursday, April 3rd. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $4.67.

Cytosorbents Stock Down 0.1%

Shares of NASDAQ:CTSO opened at $0.87 on Tuesday. The company has a current ratio of 1.97, a quick ratio of 1.58 and a debt-to-equity ratio of 1.06. Cytosorbents has a 12 month low of $0.70 and a 12 month high of $1.61. The company has a 50-day moving average price of $1.01 and a 200 day moving average price of $1.00. The company has a market cap of $54.48 million, a price-to-earnings ratio of -2.42 and a beta of 1.17.

Cytosorbents (NASDAQ:CTSO) last posted its quarterly earnings data on Monday, March 31st. The medical research company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.04. The company had revenue of $9.20 million for the quarter, compared to analyst estimates of $10.09 million. Cytosorbents had a negative net margin of 49.47% and a negative return on equity of 118.54%. As a group, equities research analysts predict that Cytosorbents will post -0.3 earnings per share for the current year.

Hedge Funds Weigh In On Cytosorbents

Institutional investors and hedge funds have recently bought and sold shares of the company. Millennium Management LLC purchased a new stake in shares of Cytosorbents during the fourth quarter valued at $30,000. Key Client Fiduciary Advisors LLC increased its holdings in Cytosorbents by 127.0% in the first quarter. Key Client Fiduciary Advisors LLC now owns 78,457 shares of the medical research company’s stock valued at $78,000 after buying an additional 43,900 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Cytosorbents by 10.6% in the fourth quarter. Renaissance Technologies LLC now owns 88,020 shares of the medical research company’s stock valued at $80,000 after buying an additional 8,400 shares in the last quarter. Northern Trust Corp increased its holdings in Cytosorbents by 22.3% in the fourth quarter. Northern Trust Corp now owns 91,560 shares of the medical research company’s stock valued at $83,000 after buying an additional 16,701 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Cytosorbents in the fourth quarter valued at $99,000. 32.87% of the stock is owned by hedge funds and other institutional investors.

About Cytosorbents

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.