Cytosorbents (NASDAQ:CTSO) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Cytosorbents (NASDAQ:CTSO) posted its quarterly earnings data on Thursday. The medical research company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02, FiscalAI reports. Cytosorbents had a negative net margin of 25.58% and a negative return on equity of 111.97%.

Cytosorbents Stock Up 4.2%

Shares of CTSO stock traded up $0.03 on Thursday, hitting $0.67. The company’s stock had a trading volume of 285,132 shares, compared to its average volume of 164,609. The stock has a market capitalization of $41.77 million, a price-to-earnings ratio of -3.91 and a beta of 1.28. Cytosorbents has a fifty-two week low of $0.61 and a fifty-two week high of $1.61. The firm’s fifty day moving average price is $0.88 and its 200-day moving average price is $0.96. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.34 and a quick ratio of 1.96.

Hedge Funds Weigh In On Cytosorbents

An institutional investor recently raised its position in Cytosorbents stock. Goldman Sachs Group Inc. grew its position in Cytosorbents Corporation (NASDAQ:CTSO) by 149.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,662 shares of the medical research company’s stock after purchasing an additional 37,519 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.10% of Cytosorbents worth $63,000 as of its most recent SEC filing. Institutional investors and hedge funds own 32.87% of the company’s stock.

Analysts Set New Price Targets

CTSO has been the subject of a number of recent analyst reports. D. Boral Capital reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Cytosorbents in a research note on Tuesday, September 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cytosorbents in a report on Tuesday, October 14th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Cytosorbents presently has a consensus rating of “Hold” and an average price target of $5.50.

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.