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

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

CollPlant Biotechnologies Stock Down 5.9 %

NASDAQ CLGN traded down $0.17 on Thursday, hitting $2.64. 13,000 shares of the stock were exchanged, compared to its average volume of 10,570. CollPlant Biotechnologies has a fifty-two week low of $2.56 and a fifty-two week high of $6.75. The company has a 50-day moving average price of $3.50 and a 200-day moving average price of $3.96. The company has a market cap of $30.18 million, a PE ratio of -1.71 and a beta of 1.07.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CLGN. D. Boral Capital reissued a “buy” rating and set a $14.00 price target on shares of CollPlant Biotechnologies in a research report on Thursday. HC Wainwright reiterated a “buy” rating and set a $11.00 target price on shares of CollPlant Biotechnologies in a report on Friday, November 29th.

About CollPlant Biotechnologies

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.