Wall Street analysts forecast that Cytosorbents Corp (NASDAQ:CTSO) will announce sales of $5.08 million for the current quarter, Zacks reports. Four analysts have provided estimates for Cytosorbents’ earnings, with the highest sales estimate coming in at $5.33 million and the lowest estimate coming in at $4.90 million. Cytosorbents posted sales of $3.57 million in the same quarter last year, which suggests a positive year-over-year growth rate of 42.3%. The company is expected to report its next quarterly earnings results on Monday, August 6th.
According to Zacks, analysts expect that Cytosorbents will report full-year sales of $21.52 million for the current financial year, with estimates ranging from $20.92 million to $21.93 million. For the next year, analysts forecast that the firm will post sales of $33.12 million per share, with estimates ranging from $27.74 million to $42.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Cytosorbents.
Cytosorbents (NASDAQ:CTSO) last posted its quarterly earnings data on Tuesday, May 8th. The medical research company reported ($0.10) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.03. The firm had revenue of $4.93 million for the quarter, compared to analysts’ expectations of $4.56 million. Cytosorbents had a negative net margin of 56.06% and a negative return on equity of 88.39%.
CTSO has been the topic of several recent research reports. Maxim Group set a $12.00 target price on shares of Cytosorbents and gave the company a “buy” rating in a report on Friday, March 9th. HC Wainwright set a $14.00 target price on shares of Cytosorbents and gave the company a “buy” rating in a report on Friday, March 9th. BidaskClub raised shares of Cytosorbents from a “hold” rating to a “buy” rating in a report on Thursday, May 17th. ValuEngine raised shares of Cytosorbents from a “hold” rating to a “buy” rating in a report on Tuesday, April 3rd. Finally, Cowen set a $9.00 target price on shares of Cytosorbents and gave the company a “buy” rating in a report on Thursday, March 8th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $11.25.
Shares of Cytosorbents traded up $0.05, hitting $11.45, on Friday, MarketBeat Ratings reports. 1,925 shares of the company traded hands, compared to its average volume of 312,364. The company has a debt-to-equity ratio of 0.68, a quick ratio of 5.99 and a current ratio of 6.16. The stock has a market cap of $342.36 million, a P/E ratio of -35.63 and a beta of 0.03. Cytosorbents has a 12-month low of $3.70 and a 12-month high of $12.35.
In other news, CFO Kathleen P. Bloch sold 10,000 shares of Cytosorbents stock in a transaction dated Monday, May 14th. The shares were sold at an average price of $8.50, for a total transaction of $85,000.00. Following the sale, the chief financial officer now owns 263,304 shares of the company’s stock, valued at approximately $2,238,084. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Vincent Capponi sold 28,000 shares of Cytosorbents stock in a transaction dated Thursday, May 17th. The shares were sold at an average price of $10.00, for a total transaction of $280,000.00. Following the sale, the chief operating officer now directly owns 325,551 shares in the company, valued at approximately $3,255,510. The disclosure for this sale can be found here. Insiders have sold a total of 77,674 shares of company stock worth $781,976 in the last ninety days. Insiders own 6.90% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN lifted its position in Cytosorbents by 182.3% during the 4th quarter. Wells Fargo & Company MN now owns 20,929 shares of the medical research company’s stock valued at $136,000 after acquiring an additional 13,515 shares during the period. Goldman Sachs Group Inc. purchased a new position in Cytosorbents in the fourth quarter worth about $146,000. Element Capital Management LLC purchased a new position in Cytosorbents in the first quarter worth about $213,000. Tibra Equities Europe Ltd purchased a new position in Cytosorbents in the first quarter worth about $362,000. Finally, BlueCrest Capital Management Ltd purchased a new position in Cytosorbents in the fourth quarter worth about $396,000. 13.07% of the stock is currently owned by hedge funds and other institutional investors.
Cytosorbents Company Profile
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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