CytoSorbents resumed with a Buy at B. Riley

B. Riley analyst Yuan Zhi resumed coverage of CytoSorbents with a Buy rating and $4 price target. The company has been off investor radars due to limited comps that have medical devices for therapeutic purposes in hematology, on top of CytoSorbents being perceived as a European Union-centric company,” the analyst tells investors in a research note. The firm says the “recent bumpy road” in the EU will not stop CytoSorb from entering the U.S. market. Riley expects a near-term data readout to support the company’s device approval in the U.S., representing “major inflection points for the stock.”