Maxim Group Releases a Buy Rating on Cytosorbents (CTSO)
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 Monday at $8.03.
According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 29.3% and a 44.3% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Appili Therapeutics Inc Class A, Brainstorm Cell Therapeutics, and Interpace Diagnostics Group.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cytosorbents with a $14.60 average price target, representing a 73.6% upside. In a report issued on November 5, H.C. Wainwright also reiterated a Buy rating on the stock with a $13.00 price target.
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Based on Cytosorbents’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $10.55 million and GAAP net loss of $839.7K. In comparison, last year the company earned revenue of $6.1 million and had a GAAP net loss of $6.89 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.