In a research report released Wednesday, MLV analyst Raghuram Selvaraju reiterated a Buy rating on Cytosorbents Corp (NASDAQ:CTSO) with a $28 price target, which represents a potential upside of 229% from where the stock is currently trading. The report follows the company's financial results for the fourth-quarter and full-year 2014.
Selvaraju noted, "Revenue and net loss per share substantially lagged our estimates, at $4.1MM and $1.29 respectively vs. our projections of $5.4MM and $0.54. The principal reason for this, according to management's comments on yesterday's conference call, was reorganization of CytoSorbents' European sales force and consequent disruption in the commercialization of CytoSorb®."
Furthermore, "We anticipate that CytoSorbents should be able to return to positive revenue growth within the coming months; in the wake of the recent commercial setback, we reiterate our BUY rating while revising our 12-month price target downwards from $30 to $28 per share, noting that yesterday's after-market selloff in the stock seems overdone."
According to TipRanks.com, which measures analysts' and bloggers' success rate based on how their calls perform, analyst Raghuram Selvaraju has a total average return of 11.9% and a 50.0% success rate. Selvaraju has a 22.1% average return when recommending CTSO, and is ranked #376 out of 3562 analysts.