MLV Initiates Buy On Cytosorbents Corp; Sees 170% Upside For The Stock
MLV analyst Raghuram Selvaraju came out today with an extremely bullish call on Cytosorbents Corp (NASDAQ:CTSO), initiating a Buy rating and a $30 price target, which represents a potential upside of 170% from where the stock is currently trading. Cytosorbents shares are trading down $0.08 or 0.74% to $10.79.
Selvaraju wrote, “In our view, CytoSorbents is an unusual technology platform firm with a marketed product in Europe that is applicable across several indications in the hospitalbased sector. This product, CytoSorb®, has already generated positive proof-ofconcept data and could achieve regulatory approval in the U.S. next year. In our view, CytoSorbents could achieve meaningful revenue growth near-term, enabling the attainment of sustainable profitability in 2016.”
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 11.1% and a 50.4% success rate. Selvaraju is ranked #423 out of 3505 analysts.