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

CollPlant Biotechnologies (NASDAQ:CLGN) announced its quarterly earnings results on Wednesday. The company reported ($0.34) earnings per share 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 company had revenue of $0.17 million during the quarter, compared to analysts’ expectations of $0.36 million.

CollPlant Biotechnologies Price Performance

CLGN traded down $0.17 during trading hours on Thursday, reaching $2.64. The company’s stock had a trading volume of 13,000 shares, compared to its average volume of 10,570. The stock has a market cap of $30.18 million, a PE 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 business’s 50-day moving average is $3.50 and its 200-day moving average is $3.96.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. D. Boral Capital restated a “buy” rating and issued a $14.00 price target on shares of CollPlant Biotechnologies in a research note on Thursday. HC Wainwright reaffirmed a “buy” rating and set a $11.00 target price on shares of CollPlant Biotechnologies in a research note 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.