CollPlant Biotechnologies (NASDAQ:CLGN) Issues Earnings Results

CollPlant Biotechnologies (NASDAQ:CLGN) posted its quarterly earnings results on Wednesday. The company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $0.17 million for the quarter, compared to analysts’ expectations of $0.36 million.

CollPlant Biotechnologies Trading Down 1.9 %

Shares of CLGN stock opened at $2.65 on Friday. The stock has a market capitalization of $30.36 million, a P/E ratio of -1.72 and a beta of 1.07. The firm’s 50 day moving average is $3.47 and its 200 day moving average is $3.95. CollPlant Biotechnologies has a 12-month low of $2.56 and a 12-month high of $6.75.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. D. Boral Capital reaffirmed a “buy” rating and issued a $14.00 price target on shares of CollPlant Biotechnologies in a report on Thursday. HC Wainwright reiterated a “buy” rating and issued a $11.00 price objective on shares of CollPlant Biotechnologies in a 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.