$3.29 Million in Sales Expected for Cytosorbents Corporation (CTSO) This Quarter
Wall Street brokerages predict that Cytosorbents Corporation (NASDAQ:CTSO) will report sales of $3.29 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Cytosorbents Corporation’s earnings. The highest sales estimate is $3.43 million and the lowest is $3.19 million. Cytosorbents Corporation posted sales of $2.22 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 48.2%. The business is expected to report its next earnings report on Tuesday, August 8th.
According to Zacks, analysts expect that Cytosorbents Corporation will report full year sales of $3.29 million for the current fiscal year, with estimates ranging from $13.65 million to $14.36 million. For the next fiscal year, analysts anticipate that the firm will post sales of $22.52 million per share, with estimates ranging from $19.12 million to $28.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Cytosorbents Corporation.
Cytosorbents Corporation (NASDAQ:CTSO) last posted its quarterly earnings results on Monday, May 8th. The medical research company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.06. The firm had revenue of $3.11 million for the quarter, compared to analyst estimates of $2.99 million. Cytosorbents Corporation had a negative net margin of 108.69% and a negative return on equity of 1,426.21%.
A number of research analysts have recently commented on the company. B. Riley reiterated a “buy” rating and set a $11.25 price target on shares of Cytosorbents Corporation in a report on Tuesday, April 11th. Maxim Group set a $10.00 target price on Cytosorbents Corporation and gave the company a “buy” rating in a research note on Saturday, May 6th. Finally, Cowen and Company began coverage on Cytosorbents Corporation in a research note on Wednesday, June 7th. They issued an “outperform” rating and a $7.00 target price for the company. Six analysts have rated the stock with a buy rating, Cytosorbents Corporation currently has a consensus rating of “Buy” and an average price target of $12.38.
In other news, insider Phillip P. Chan bought 6,300 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The stock was acquired at an average cost of $4.00 per share, for a total transaction of $25,200.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders purchased 17,500 shares of company stock valued at $70,620 over the last 90 days. 5.60% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTSO. Skylands Capital LLC raised its position in Cytosorbents Corporation by 1,276.5% in the first quarter. Skylands Capital LLC now owns 316,600 shares of the medical research company’s stock valued at $1,425,000 after buying an additional 293,600 shares in the last quarter. Segantii Capital Management Ltd raised its position in Cytosorbents Corporation by 563.4% in the first quarter. Segantii Capital Management Ltd now owns 27,200 shares of the medical research company’s stock valued at $122,000 after buying an additional 23,100 shares in the last quarter. Cowen Group Inc. bought a new position in Cytosorbents Corporation during the first quarter valued at about $248,000. Finally, Sabby Management LLC bought a new position in Cytosorbents Corporation during the first quarter valued at about $990,000. Hedge funds and other institutional investors own 8.75% of the company’s stock.
Cytosorbents Corporation (NASDAQ:CTSO) opened at 4.35 on Friday. The firm’s market capitalization is $122.27 million. The company’s 50-day moving average is $4.11 and its 200-day moving average is $5.02. Cytosorbents Corporation has a 52-week low of $3.30 and a 52-week high of $6.90.
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About Cytosorbents Corporation
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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