$5.87 Million in Sales Expected for Cytosorbents Corp (CTSO) This Quarter

Equities analysts forecast that Cytosorbents Corp (NASDAQ:CTSO) will post $5.87 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Cytosorbents’ earnings, with the highest sales estimate coming in at $6.11 million and the lowest estimate coming in at $5.70 million. Cytosorbents posted sales of $3.45 million in the same quarter last year, which suggests a positive year-over-year growth rate of 70.1%. The business is expected to announce its next quarterly earnings results on Thursday, November 8th.

According to Zacks, analysts expect that Cytosorbents will report full year sales of $22.88 million for the current fiscal year, with estimates ranging from $22.50 million to $23.35 million. For the next year, analysts expect that the company will report sales of $32.81 million, with estimates ranging from $27.68 million to $38.24 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Cytosorbents.

Cytosorbents (NASDAQ:CTSO) last posted its quarterly earnings results on Thursday, August 2nd. The medical research company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.07). The business had revenue of $5.76 million for the quarter, compared to analyst estimates of $5.08 million. Cytosorbents had a negative net margin of 74.60% and a negative return on equity of 100.51%.

A number of research analysts have commented on CTSO shares. BidaskClub upgraded Cytosorbents from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 1st. Maxim Group restated a “buy” rating and issued a $18.00 target price on shares of Cytosorbents in a research note on Tuesday, September 4th. Finally, Cowen restated a “buy” rating and issued a $15.00 target price on shares of Cytosorbents in a research note on Friday, August 3rd. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $14.56.

In other news, CEO Phillip P. Chan sold 5,787 shares of the company’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $14.85, for a total transaction of $85,936.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kathleen P. Bloch sold 10,000 shares of the company’s stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $12.54, for a total value of $125,400.00. Following the sale, the chief financial officer now owns 260,004 shares of the company’s stock, valued at approximately $3,260,450.16. The disclosure for this sale can be found here. Insiders sold 85,936 shares of company stock worth $1,188,991 in the last 90 days. Corporate insiders own 6.90% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CTSO. Element Capital Management LLC bought a new stake in shares of Cytosorbents during the 1st quarter worth about $213,000. Millennium Management LLC boosted its stake in shares of Cytosorbents by 134.4% during the 1st quarter. Millennium Management LLC now owns 384,330 shares of the medical research company’s stock worth $2,710,000 after acquiring an additional 220,353 shares in the last quarter. Ballentine Partners LLC bought a new stake in shares of Cytosorbents during the 2nd quarter worth about $228,000. Pegasus Partners Ltd. bought a new stake in shares of Cytosorbents during the 2nd quarter worth about $114,000. Finally, Bradley Foster & Sargent Inc. CT bought a new stake in Cytosorbents during the 2nd quarter valued at approximately $1,591,000. Institutional investors own 24.91% of the company’s stock.

NASDAQ CTSO traded down $0.67 on Tuesday, reaching $10.19. The stock had a trading volume of 12,692 shares, compared to its average volume of 201,172. The company has a debt-to-equity ratio of 0.46, a current ratio of 8.82 and a quick ratio of 8.60. Cytosorbents has a 1 year low of $5.80 and a 1 year high of $14.95. The company has a market capitalization of $346.05 million, a P/E ratio of -34.22 and a beta of 0.19.

About Cytosorbents

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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