Maxim Group reissued their buy rating on shares of Cytosorbents Corporation (NASDAQ:CTSO) in a research note released on Friday. They currently have 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.”,” the firm’s analyst wrote.
CTSO has been the topic of several other research reports. ValuEngine upgraded Cytosorbents Corporation from a sell rating to a hold rating in a research report on Wednesday, September 6th. HC Wainwright restated a buy rating and issued a $13.00 price target on shares of Cytosorbents Corporation in a research report on Tuesday, September 26th. Aegis restated a buy rating and issued a $9.00 price target on shares of Cytosorbents Corporation in a research report on Tuesday, July 25th. Finally, B. Riley restated a buy rating and issued a $11.25 price target on shares of Cytosorbents Corporation in a research report on Saturday, August 12th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Cytosorbents Corporation currently has an average rating of Buy and an average target price of $10.45.
Shares of Cytosorbents Corporation (CTSO) traded down $0.01 during mid-day trading on Friday, reaching $6.24. The company had a trading volume of 43,948 shares, compared to its average volume of 130,973. Cytosorbents Corporation has a 1 year low of $3.30 and a 1 year high of $6.70. The company has a debt-to-equity ratio of 0.73, a quick ratio of 3.17 and a current ratio of 3.36.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTSO. Skylands Capital LLC increased its position in Cytosorbents Corporation by 87.7% during the 2nd quarter. Skylands Capital LLC now owns 594,250 shares of the medical research company’s stock worth $2,555,000 after purchasing an additional 277,650 shares during the period. PNC Financial Services Group Inc. increased its position in Cytosorbents Corporation by 145.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 38,000 shares of the medical research company’s stock worth $163,000 after purchasing an additional 22,500 shares during the period. Finally, Fortaleza Asset Management Inc. increased its position in Cytosorbents Corporation by 81.6% during the 3rd quarter. Fortaleza Asset Management Inc. now owns 23,375 shares of the medical research company’s stock worth $145,000 after purchasing an additional 10,500 shares during the period. Institutional investors own 6.43% 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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