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

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

CollPlant Biotechnologies Stock Performance

CLGN traded down $0.17 on Thursday, reaching $2.64. The company had a trading volume of 13,000 shares, compared to its average volume of 10,569. The stock has a market cap of $30.18 million, a P/E ratio of -1.71 and a beta of 1.07. CollPlant Biotechnologies has a fifty-two week low of $2.56 and a fifty-two week high of $6.75. The company’s fifty day moving average is $3.50 and its 200 day moving average is $3.96.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CLGN shares. D. Boral Capital reaffirmed a “buy” rating and issued a $14.00 target price on shares of CollPlant Biotechnologies in a report on Thursday. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price objective on shares of CollPlant Biotechnologies in a research report on Friday, November 29th.

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.