Wall Street brokerages predict that Cytosorbents Corp (NASDAQ:CTSO) will announce $5.08 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Cytosorbents’ earnings. The highest sales estimate is $5.33 million and the lowest is $4.90 million. Cytosorbents posted sales of $3.57 million in the same quarter last year, which suggests a positive year-over-year growth rate of 42.3%. The firm is scheduled to report its next earnings report on Thursday, November 8th.

According to Zacks, analysts expect that Cytosorbents will report full-year sales of $22.59 million for the current fiscal year, with estimates ranging from $21.71 million to $23.35 million. For the next year, analysts anticipate that the firm will report sales of $32.41 million per share, with estimates ranging from $27.68 million to $38.24 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Cytosorbents.

Cytosorbents (NASDAQ:CTSO) last issued its earnings results on Thursday, August 2nd. The medical research company reported ($0.19) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.07). The company had revenue of $5.76 million during the quarter, compared to analysts’ expectations of $5.08 million. Cytosorbents had a negative net margin of 74.60% and a negative return on equity of 100.51%.

Several analysts have issued reports on the company. BidaskClub cut Cytosorbents from a “buy” rating to a “hold” rating in a report on Friday. Maxim Group set a $12.00 price target on Cytosorbents and gave the stock a “buy” rating in a report on Wednesday, May 9th. Cowen reiterated a “buy” rating and set a $15.00 price target on shares of Cytosorbents in a report on Friday, August 3rd. HC Wainwright reiterated a “buy” rating and set a $14.00 price target on shares of Cytosorbents in a report on Wednesday, May 9th. Finally, ValuEngine upgraded Cytosorbents from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 12th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $13.31.

NASDAQ:CTSO traded up $0.55 during trading hours on Thursday, hitting $11.55. The company had a trading volume of 167,806 shares, compared to its average volume of 247,577. The company has a quick ratio of 8.60, a current ratio of 8.82 and a debt-to-equity ratio of 0.46. The stock has a market cap of $346.05 million, a P/E ratio of -36.09 and a beta of 0.14. Cytosorbents has a 1 year low of $4.50 and a 1 year high of $13.40.

In other news, CFO Kathleen P. Bloch sold 12,400 shares of the stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $9.00, for a total transaction of $111,600.00. Following the completion of the sale, the chief financial officer now owns 265,704 shares in the company, valued at approximately $2,391,336. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Vincent Capponi sold 10,435 shares of the stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $13.06, for a total value of $136,281.10. Following the sale, the chief operating officer now owns 335,603 shares of the company’s stock, valued at approximately $4,382,975.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,989 shares of company stock valued at $1,042,667. Company insiders own 6.90% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CTSO. BlackRock Inc. lifted its position in Cytosorbents by 1,156.8% in the 2nd quarter. BlackRock Inc. now owns 1,706,847 shares of the medical research company’s stock valued at $19,459,000 after acquiring an additional 1,571,041 shares in the last quarter. Millennium Management LLC lifted its position in Cytosorbents by 134.4% in the 1st quarter. Millennium Management LLC now owns 384,330 shares of the medical research company’s stock valued at $2,710,000 after acquiring an additional 220,353 shares in the last quarter. EAM Investors LLC lifted its position in Cytosorbents by 107.9% in the 2nd quarter. EAM Investors LLC now owns 178,690 shares of the medical research company’s stock valued at $2,037,000 after acquiring an additional 92,723 shares in the last quarter. Bradley Foster & Sargent Inc. CT bought a new stake in Cytosorbents in the 2nd quarter valued at $1,591,000. Finally, EAM Global Investors LLC bought a new stake in Cytosorbents in the 2nd quarter valued at $1,366,000. Institutional investors own 13.12% of the company’s stock.

About Cytosorbents

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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Earnings History and Estimates for Cytosorbents (NASDAQ:CTSO)

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