H.C. Wainwright analyst Sean Lee CFA maintained a Hold rating on Cytosorbents today and set a price target of $1.00.
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Sean Lee CFA has given his Hold rating due to a combination of factors impacting Cytosorbents. The company’s recent financial performance showed a positive trend with a 9% year-over-year increase in product revenues, primarily driven by a turnaround in the German market and strong contributions from global distribution partners. However, despite these improvements, the company’s revenues fell short of consensus estimates, and there are uncertainties surrounding its regulatory challenges.
Another significant factor influencing the Hold rating is the ongoing FDA appeals process regarding the use of DrugSorb-ATR during coronary artery bypass grafting surgery, which adds a layer of uncertainty to the company’s future prospects. The lack of clarity on the specific issues with the regulatory filings makes it difficult to predict the outcome of the appeal, leading to skepticism about its success. Additionally, the valuation of CTSO is based on a cautious approach, considering both price-sales and price-earnings multiples, reflecting potential risks in clinical, commercial, financial, and partnership areas.
Lee CFA covers the Healthcare sector, focusing on stocks such as Verastem, Senseonics Holdings, and Cytosorbents. According to TipRanks, Lee CFA has an average return of -3.6% and a 29.57% success rate on recommended stocks.
In another report released on July 30, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $1.00 price target.