What To Know About HC Wainwright & Co.'s Downgrade of CytoSorbents
Portfolio Pulse from Benzinga Insights
HC Wainwright & Co. downgraded CytoSorbents (NASDAQ:CTSO) from a previous rating to Neutral and slashed the price target from $5.50 to $1.00. Following the downgrade, CTSO shares dropped by 5.07% to $1.03. The new price target suggests a further potential decline of 2.91%. CytoSorbents specializes in blood purification technology for critical care and cardiac surgery.
December 29, 2023 | 5:00 pm
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NEGATIVE IMPACT
CytoSorbents downgraded by HC Wainwright to Neutral with a new price target of $1.00, indicating potential downside from the current price of $1.03.
The downgrade by HC Wainwright & Co. is a significant negative sentiment indicator for CytoSorbents, likely leading to a bearish outlook among investors. The reduction in the price target to $1.00, which is below the current trading price, suggests that the stock may experience further declines in the short term. The recent 5.07% drop in share price post-downgrade reflects the market's reaction to the analyst's revised outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100