CollPlant Biotechnologies (NASDAQ:CLGN) Issues Quarterly Earnings Results, Beats Expectations By $0.08 EPS

CollPlant Biotechnologies (NASDAQ:CLGN) announced its quarterly earnings data on Wednesday. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.08, Zacks reports. CollPlant Biotechnologies had a negative return on equity of 77.05% and a negative net margin of 2,680.00%. The business had revenue of $0.17 million during the quarter, compared to analyst estimates of $0.36 million.

CollPlant Biotechnologies Price Performance

Shares of CollPlant Biotechnologies stock traded down $0.08 during trading on Thursday, hitting $2.64. 285 shares of the company’s stock traded hands, compared to its average volume of 10,573. CollPlant Biotechnologies has a 1 year low of $2.56 and a 1 year high of $6.75. The business has a 50-day simple moving average of $3.50 and a 200-day simple moving average of $3.96. The stock has a market capitalization of $30.18 million, a P/E ratio of -1.71 and a beta of 1.07.

Analyst Ratings Changes

CLGN has been the topic of a number of recent research reports. HC Wainwright reissued a “buy” rating and issued a $11.00 target price on shares of CollPlant Biotechnologies in a research note on Friday, November 29th. D. Boral Capital reiterated a “buy” rating and set a $14.00 price target on shares of CollPlant Biotechnologies in a report on Thursday.

CollPlant Biotechnologies Company Profile

CollPlant Biotechnologies Ltd., a regenerative and aesthetic medicine company, focuses on three-dimensional (3D) bioprinting of tissues and organs, and medical aesthetics in the United States, Canada, Israel, Europe, and internationally. Its products are based on recombinant type I human collagen that is produced with its proprietary plant based genetic engineering technology.