Maxim Group analyst Jason McCarthy assigned a Buy rating to Cytosorbents (CTSO) yesterday and set a price target of $14.00. The company’s shares closed last Thursday at $9.41.
According to TipRanks.com, McCarthy is a top 100 analyst with an average return of 41.8% and a 53.9% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Brainstorm Cell Therapeutics, Lineage Cell Therapeutics, and Actinium Pharmaceuticals.
Currently, the analyst consensus on Cytosorbents is a Strong Buy with an average price target of $14.33, representing a 47.7% upside. In a report issued on July 21, H.C. Wainwright also maintained a Buy rating on the stock with a $14.00 price target.
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Based on Cytosorbents’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $8.71 million and GAAP net loss of $3.45 million. In comparison, last year the company earned revenue of $6.23 million and had a GAAP net loss of $3.55 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.
