B.Riley FBR analyst Andrew D’silva maintained a Buy rating on Cytosorbents Corp (CTSO) today and set a price target of $13.50. The company’s shares opened today at $7.41, close to its 52-week low of $6.67.
D’silva said:
“CytoSorbents (CTSO) reported 4Q18 results and held a corresponding conference call at 4:45 p.m. ET. The company posted a top line/adj. EPS/adj. EBITDA of $6.1M/($0.16)/($3.9M), versus our estimates of $5.9M/($0.15)/($2.9M) and consensus’ $6.1M/ ($0.13)/($2.9M). (We represent consensus for adj. EBITDA.) The top-line beat was primarily due to higher grant income: CytoSorb (CS) sales were in line with CTSO’s preannouncement. The adj. EPS/adj.”
According to TipRanks.com, D’silva is a 4-star analyst with an average return of 9.3% and a 42.9% success rate. D’silva covers the Healthcare sector, focusing on stocks such as EyePoint Pharmaceuticals Inc, Imprimis Pharmaceuticals, and Oramed Pharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cytosorbents Corp with a $15.50 average price target, representing a 109.2% upside. In a report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $15 price target.
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Based on Cytosorbents Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $3 million. In comparison, last year the company had a GAAP net loss of $3.15 million.
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CytoSorbents Corp. engages in the development of blood purification technology for the reduction of deadly uncontrolled inflammation in hospitalized patients. Its product, CytoSorb, is a extracorporeal cytokine filter and seeks to reduce cytokine storm that could otherwise cause massive inflammation, organ failure, and death in common critical illnesses such as sepsis, burn injury, trauma, lung injury, and pancreatitis. The company was founded by Joseph Rubin on April 25, 2002 and is headquartered in Monmouth Junction, NJ.
