Cytosorbents Corp (NASDAQ:CTSO) Expected to Announce Quarterly Sales of $6.52 Million

Wall Street brokerages expect Cytosorbents Corp (NASDAQ:CTSO) to report sales of $6.52 million for the current quarter, Zacks reports. Five analysts have made estimates for Cytosorbents’ earnings, with the highest sales estimate coming in at $7.07 million and the lowest estimate coming in at $5.90 million. Cytosorbents reported sales of $5.74 million in the same quarter last year, which indicates a positive year over year growth rate of 13.6%. The company is scheduled to announce its next earnings results on Tuesday, November 5th.

According to Zacks, analysts expect that Cytosorbents will report full-year sales of $25.51 million for the current fiscal year, with estimates ranging from $23.62 million to $26.97 million. For the next fiscal year, analysts expect that the company will report sales of $36.76 million, with estimates ranging from $31.07 million to $44.52 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Cytosorbents.

Cytosorbents (NASDAQ:CTSO) last released its earnings results on Tuesday, August 6th. The medical research company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.03. Cytosorbents had a negative return on equity of 105.97% and a negative net margin of 72.43%. The company had revenue of $6.23 million during the quarter, compared to analyst estimates of $6.53 million.

A number of research analysts have commented on the company. HC Wainwright reaffirmed a “buy” rating on shares of Cytosorbents in a research report on Wednesday, August 7th. B. Riley set a $12.00 price target on Cytosorbents and gave the company a “buy” rating in a research report on Friday, July 19th. ValuEngine lowered Cytosorbents from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Maxim Group set a $14.00 price target on Cytosorbents and gave the company a “buy” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $13.67.

Shares of NASDAQ CTSO traded up $0.03 during midday trading on Friday, reaching $4.80. The company had a trading volume of 310,553 shares, compared to its average volume of 150,288. Cytosorbents has a one year low of $3.68 and a one year high of $14.95. The company has a quick ratio of 3.00, a current ratio of 3.21 and a debt-to-equity ratio of 0.87. The firm’s fifty day moving average price is $6.65 and its 200-day moving average price is $7.13. The stock has a market cap of $154.07 million, a PE ratio of -8.57 and a beta of 1.50.

In other Cytosorbents news, CFO Kathleen P. Bloch purchased 6,500 shares of the stock in a transaction on Friday, August 16th. The stock was acquired at an average price of $4.83 per share, with a total value of $31,395.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 5.60% of the company’s stock.

Several hedge funds have recently bought and sold shares of the business. BNP Paribas Arbitrage SA acquired a new position in Cytosorbents during the first quarter valued at $47,000. Metropolitan Life Insurance Co. NY raised its position in shares of Cytosorbents by 356.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,442 shares of the medical research company’s stock worth $84,000 after acquiring an additional 8,155 shares during the period. D. E. Shaw & Co. Inc. acquired a new position in shares of Cytosorbents in the second quarter worth about $164,000. Advisor Group Inc. raised its position in shares of Cytosorbents by 15.8% in the second quarter. Advisor Group Inc. now owns 33,170 shares of the medical research company’s stock worth $219,000 after acquiring an additional 4,530 shares during the period. Finally, Susquehanna International Group LLP raised its position in shares of Cytosorbents by 933.4% in the second quarter. Susquehanna International Group LLP now owns 38,447 shares of the medical research company’s stock worth $254,000 after acquiring an additional 43,060 shares during the period. Hedge funds and other institutional investors own 26.35% of the company’s stock.

Cytosorbents Company Profile

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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Earnings History and Estimates for Cytosorbents (NASDAQ:CTSO)

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