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

Cytosorbents (NASDAQ:CTSO) issued its earnings results on Thursday. The medical research company reported ($0.04) earnings per share for the quarter, beating the consensus estimate 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 Price Performance

Shares of Cytosorbents stock traded up $0.03 on Thursday, hitting $0.67. The company’s stock had a trading volume of 290,773 shares, compared to its average volume of 164,628. The company has a market capitalization of $41.77 million, a P/E ratio of -3.91 and a beta of 1.28. Cytosorbents has a 52-week low of $0.61 and a 52-week high of $1.61. The firm has a fifty day moving average price of $0.88 and a 200-day moving average price of $0.96. The company has a quick ratio of 1.96, a current ratio of 2.34 and a debt-to-equity ratio of 1.24.

Institutional Trading of Cytosorbents

A hedge fund recently raised its stake in Cytosorbents stock. Vanguard Group Inc. lifted its holdings in shares of Cytosorbents Corporation (NASDAQ:CTSO) by 3.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,204,294 shares of the medical research company’s stock after purchasing an additional 79,535 shares during the period. Vanguard Group Inc. owned about 3.51% of Cytosorbents worth $2,059,000 as of its most recent SEC filing. Institutional investors and hedge funds own 32.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CTSO. D. Boral Capital restated a “buy” rating and issued a $10.00 price objective on shares of Cytosorbents in a research report on Tuesday, September 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Cytosorbents in a research note on Tuesday, October 14th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average 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.