H.C. Wainwright Keeps Their Buy Rating on Cytosorbents Corp (CTSO)

H.C. Wainwright analyst Swayampakula Ramakanth reiterated a Buy rating on Cytosorbents Corp (CTSO) today and set a price target of $15. The company’s shares closed yesterday at $9.65.

Ramakanth wrote:

“We maintain our Buy rating of CytoSorbents and our 12- month price target of $15.00 per share. We derive our price target based on the average of two valuation methods: 1) price-sales multiple using 7x 2025 sales estimate discounted at 12%; and 2) price-earnings multiple using 25x 2025 earnings estimate discounted at 12%.”

According to TipRanks.com, Ramakanth is a 3-star analyst with an average return of 1.4% and a 35.2% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals Inc, IntelGenx Technologies, and Trillium Therapeutics.

Currently, the analyst consensus on Cytosorbents Corp is a Strong Buy with an average price target of $16.50.

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The company has a one-year high of $14.95 and a one-year low of $5.80. Currently, Cytosorbents Corp has an average volume of 219.8K.

Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CTSO in relation to earlier this year.

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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.