Cytosorbents Corp (NASDAQ:CTSO) Expected to Announce Earnings of -$0.17 Per Share

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Wall Street analysts expect Cytosorbents Corp (NASDAQ:CTSO) to report earnings of ($0.17) per share for the current quarter, Zacks reports. Five analysts have issued estimates for Cytosorbents’ earnings. The highest EPS estimate is ($0.14) and the lowest is ($0.23). Cytosorbents also posted earnings of ($0.17) per share in the same quarter last year. The firm is expected to announce its next quarterly earnings report on Thursday, March 5th.

On average, analysts expect that Cytosorbents will report full-year earnings of ($0.60) per share for the current year, with EPS estimates ranging from ($0.70) to ($0.51). For the next fiscal year, analysts forecast that the company will report earnings of ($0.37) per share, with EPS estimates ranging from ($0.66) to ($0.08). Zacks’ EPS calculations are an average based on a survey of analysts that that provide coverage for Cytosorbents.

Cytosorbents (NASDAQ:CTSO) last posted its earnings results on Tuesday, November 5th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.08). Cytosorbents had a negative net margin of 87.79% and a negative return on equity of 165.00%. The business had revenue of $6.10 million for the quarter, compared to analyst estimates of $6.49 million.

CTSO has been the subject of a number of recent research reports. HC Wainwright reiterated a “buy” rating and set a $13.00 price objective on shares of Cytosorbents in a research note on Tuesday, November 26th. B. Riley reaffirmed a “buy” rating and set a $12.00 target price on shares of Cytosorbents in a report on Wednesday, November 27th. Maxim Group reaffirmed a “buy” rating and set a $8.00 target price on shares of Cytosorbents in a report on Monday, November 25th. Finally, ValuEngine cut Cytosorbents from a “buy” rating to a “hold” rating in a research report on Friday, November 1st.

CTSO traded up $0.35 during midday trading on Friday, hitting $3.96. 457,600 shares of the company were exchanged, compared to its average volume of 152,763. The company’s 50 day simple moving average is $4.44 and its 200 day simple moving average is $5.53. The firm has a market capitalization of $124.18 million, a price-to-earnings ratio of -7.07 and a beta of 1.65. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 1.88. Cytosorbents has a 1-year low of $3.49 and a 1-year high of $9.82.

In other news, CEO Phillip P. Chan bought 16,500 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was purchased at an average cost of $3.96 per share, for a total transaction of $65,340.00. Insiders own 5.60% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Granahan Investment Management Inc. MA increased its holdings in Cytosorbents by 67.9% in the third quarter. Granahan Investment Management Inc. MA now owns 664,704 shares of the medical research company’s stock valued at $3,343,000 after buying an additional 268,829 shares in the last quarter. Skylands Capital LLC increased its stake in shares of Cytosorbents by 13.8% in the 3rd quarter. Skylands Capital LLC now owns 774,250 shares of the medical research company’s stock valued at $3,894,000 after purchasing an additional 93,650 shares in the last quarter. Cadence Capital Management LLC purchased a new position in shares of Cytosorbents in the 3rd quarter valued at about $61,000. United Services Automobile Association increased its stake in shares of Cytosorbents by 9.8% in the 2nd quarter. United Services Automobile Association now owns 327,636 shares of the medical research company’s stock valued at $2,166,000 after purchasing an additional 29,250 shares in the last quarter. Finally, Susquehanna International Group LLP raised its holdings in Cytosorbents by 933.4% in the 2nd quarter. Susquehanna International Group LLP now owns 38,447 shares of the medical research company’s stock worth $254,000 after purchasing an additional 43,060 shares during the period. Institutional investors own 26.06% of the company’s stock.

Cytosorbents Company Profile

Cytosorbents Corporation, a critical care focused immunotherapy company, engages in the research, development, and commercialization of medical devices with its blood purification technology platform incorporating a proprietary adsorbent and porous polymer technology worldwide. The company's flagship product is CytoSorb device, an extracorporeal cytokine filter designed for the adjunctive therapy in the treatment of sepsis; adjunctive therapy in other critical care applications; prevention and treatment of post-operative complications of cardiopulmonary bypass surgery; and prevention and treatment of organ dysfunction in brain-dead organ donors to increase the number and quality of viable organs harvested from donors.

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