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 $7.54, close to its 52-week low of $6.70.
Ramakanth said:
“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 ranked 0 out of 5 stars with an average return of -9.2% and a 33.0% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals Inc, IntelGenx Technologies, and Gritstone Oncology Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cytosorbents Corp with a $15.50 average price target, a 105.6% upside from current levels. In a report issued on May 6, B.Riley FBR also maintained a Buy rating on the stock with a $13.50 price target.
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Based on Cytosorbents Corp’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $5.4 million. In comparison, last year the company had a GAAP net loss of $2.98 million.
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CytoSorbents Corp. engages in the research and development of blood purification technology for the reduction of deadly uncontrolled inflammation in hospitalized patients. Its product include CytoSorb, ContrastSorb, HemoDefend, VetResQ, and DrugSorb. The company was founded by Joseph Rubin on April 25, 2002 and is headquartered in Monmouth Junction, NJ.
