Brokerages forecast that Cytosorbents Corp (NASDAQ:CTSO) will announce earnings per share (EPS) of ($0.13) for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Cytosorbents’ earnings, with the lowest EPS estimate coming in at ($0.15) and the highest estimate coming in at ($0.11). Cytosorbents posted earnings of ($0.04) per share in the same quarter last year, which suggests a negative year-over-year growth rate of 225%. The business is scheduled to announce its next quarterly earnings report on Thursday, November 8th.
According to Zacks, analysts expect that Cytosorbents will report full year earnings of ($0.56) per share for the current year, with EPS estimates ranging from ($0.61) to ($0.50). For the next fiscal year, analysts anticipate that the firm will report earnings of ($0.38) per share, with EPS estimates ranging from ($0.62) to ($0.24). Zacks’ earnings per share averages are an average based on a survey of research firms that follow Cytosorbents.
Cytosorbents (NASDAQ:CTSO) last posted its quarterly earnings data on Thursday, August 2nd. The medical research company reported ($0.19) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.07). The firm had revenue of $5.76 million for the quarter, compared to the consensus estimate of $5.08 million. Cytosorbents had a negative net margin of 74.60% and a negative return on equity of 100.51%.
CTSO has been the topic of several analyst reports. ValuEngine upgraded Cytosorbents from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 12th. BidaskClub downgraded Cytosorbents from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 31st. Maxim Group set a $13.00 target price on Cytosorbents and gave the company a “buy” rating in a research report on Tuesday, May 15th. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 target price on shares of Cytosorbents in a research report on Wednesday, May 9th. Finally, Cowen reissued a “buy” rating and set a $15.00 price objective on shares of Cytosorbents in a research report on Friday, August 3rd. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $13.31.
In related news, CFO Kathleen P. Bloch sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $12.54, for a total transaction of $125,400.00. Following the completion of the sale, the chief financial officer now owns 260,004 shares in the company, valued at $3,260,450.16. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kathleen P. Bloch sold 12,400 shares of the business’s stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $9.00, for a total value of $111,600.00. Following the sale, the chief financial officer now owns 265,704 shares of the company’s stock, valued at approximately $2,391,336. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,989 shares of company stock valued at $1,042,667. 6.90% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Pegasus Partners Ltd. purchased a new stake in Cytosorbents during the second quarter worth approximately $114,000. Wells Fargo & Company MN lifted its stake in Cytosorbents by 182.3% during the fourth quarter. Wells Fargo & Company MN now owns 20,929 shares of the medical research company’s stock worth $136,000 after purchasing an additional 13,515 shares during the last quarter. Goldman Sachs Group Inc. purchased a new stake in Cytosorbents in the fourth quarter valued at approximately $146,000. Commonwealth Equity Services LLC purchased a new stake in Cytosorbents in the second quarter valued at approximately $199,000. Finally, Element Capital Management LLC purchased a new stake in Cytosorbents in the first quarter valued at approximately $213,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.
Shares of CTSO stock traded up $0.55 during mid-day trading on Tuesday, hitting $11.55. 167,806 shares of the stock traded hands, compared to its average volume of 247,577. The firm has a market cap of $346.05 million, a price-to-earnings ratio of -36.09 and a beta of 0.14. Cytosorbents has a 52-week low of $4.50 and a 52-week high of $13.40. The company has a debt-to-equity ratio of 0.46, a quick ratio of 8.60 and a current ratio of 8.82.
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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