In a research report published Monday, Brean Capital analyst Jonathan Aschoff maintained a Buy rating on shares of Cytosorbents Corp (NASDAQ:CTSO) with a $25 price target, after the company released its second-quarter results, posting revenue and EPS of approximately $1 million and $0.05, respectively, beating consensus of $0.9 million and $(0.11).

Aschoff wrote, “CytoSorbents is actively working with KOLs as well as practicing physicians in its direct territories of Germany, Austria and Switzerland. Following the restructuring of its direct sales force, CytoSorbents recently expanded its direct sales team to 7 people subsequent to 2Q15, including two well-qualified sales reps and a contract sales rep. The company is in the process of hiring two additional sales reps and a medical liaison before YE15. We believe direct sales will start to normalize in 3Q15 and CytoSorbents should be in a good position to meet demand.”

“CytoSorbents ended 2Q15 with $11.2 million in cash and investments, including net proceeds of $9.4 million from a registered stock offering in January 2015, to fund its planned pivotal trials in the US and Germany and expand its production capacity. We expect the company to have sufficient cash to support its operations into 2016,” the analyst added.

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jonathan Aschoff has a total average return of 6.2% and a 46.5% success rate. Aschoff has a -21.2% average return when recommending CTSO, and is ranked #577 out of 3737 analysts.