CytoSorbents (CTSO) Bullish View Reiterated at Maxim Group as Two Distributors Added

Maxim Group analyst Jason Kolbert reiterated a Buy rating and $8 price target on CytoSorbents (NASDAQ: CTSO) as two more distributors come online.

Kolbert commented:

• CytoSorbents announced the signing of two exclusive distribution agreements with Medial Ltd and Meditrade Ltd. This follows the addition of Palex Medical SA a few weeks ago and Fresenius Medical Care prior to that.
• Medial will distribute CytoSorb in Hungary while Meditrade will distribute CytoSorb for all critical care and cardiac surgery applications in both the Czech Republic and Slovakia, and for cardiac surgery in Poland. CytoSorbents already has a distribution agreement with Fresenius Medical Care in Poland (also France and Scandinavia) for all critical care applications.
• Conclusion. CytoSorb is now commercially available in 37 countries, including all 28 countries of the EU. With the addition of two more distributors, CytoSorbents continues to make steady progress in its commercial efforts, and we remain hopeful that sales volume will follow. In addition, in the U.S., we are awaiting CytoSorb data from the REFRESH I study (see below) in complex cardiac surgery, expected this quarter.

For an analyst ratings summary and ratings history on CytoSorbents click here. For more ratings news on CytoSorbents click here.

Shares of CytoSorbents closed at $4.85 yesterday.

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