CollPlant Biotechnologies (NASDAQ:CLGN) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

CollPlant Biotechnologies (NASDAQ:CLGN) released its earnings results on Friday. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.01, Zacks reports. CollPlant Biotechnologies had a negative net margin of 353.70% and a negative return on equity of 161.69%. The company had revenue of $0.07 million during the quarter, compared to analysts’ expectations of $0.46 million.

CollPlant Biotechnologies Stock Down 0.7%

Shares of NASDAQ CLGN opened at $0.40 on Friday. CollPlant Biotechnologies has a 52 week low of $0.27 and a 52 week high of $4.98. The firm has a 50-day moving average price of $0.44 and a 200 day moving average price of $1.06. The stock has a market capitalization of $5.79 million, a price-to-earnings ratio of -0.30 and a beta of 1.47.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Weiss Ratings cut shares of CollPlant Biotechnologies from a “sell (e+)” rating to a “sell (e)” rating in a research note on Friday, May 22nd. D. Boral Capital cut shares of CollPlant Biotechnologies from a “buy” rating to a “hold” rating in a research note on Friday, February 6th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, CollPlant Biotechnologies presently has an average rating of “Hold” and a consensus price target of $11.50.

CollPlant Biotechnologies Company Profile

CollPlant Biotechnologies Ltd. (NASDAQ: CLGN) is a regenerative medicine company that develops and commercializes recombinant human collagen (rhCollagen) and 3D bioprinting technologies for medical and aesthetic applications. The company’s proprietary plant-based rhCollagen is produced using genetically engineered tobacco plants to provide a scalable, animal-free source of human collagen that meets regulatory standards.

CollPlant’s product portfolio includes Vergenix™ wound care matrices and dermal fillers for aesthetic and reconstructive purposes, as well as a range of bioinks designed for 3D bioprinting of soft and hard tissues.