EF Hutton launched coverage of CytoSorbents (NASDAQ:CTSO) with a “buy” rating and $10 target price. The stock closed at $1.03 on July 26.
CytoSorbents’ innovative filter cartridges, CytoSorb, and DrugSorb, stand at the forefront of in vivo blood purification technologies. CytoSorb is approved and utilized in up to 75 countries worldwide.
“We are enthusiastic about the U.S. regulatory submission for DrugSorb to manage bleeding in coronary artery bypass graft (CABG) patients,” writes analyst Jason Kolbert. “In the recent STAR-T (Safe and Timely Antithrombotic Removal – Ticagrelor) trial, this group, which comprised 90% of the patients, demonstrated a statistically significant p-value, even though the overall trial did not reach statistical significance. Following U.S. approval, we anticipate a range of additional indications, including sepsis, kidney injury, and ARDS.”
