CollPlant Biotechnologies (NASDAQ:CLGN) Announces Earnings Results, Beats Expectations By $0.56 EPS

CollPlant Biotechnologies (NASDAQ:CLGN) announced its earnings results on Wednesday. The company reported ($1.89) EPS for the quarter, topping the consensus estimate of ($2.45) by $0.56, Zacks reports. The firm had revenue of $0.11 million for the quarter, compared to the consensus estimate of $0.48 million. CollPlant Biotechnologies had a negative net margin of 683.68% and a negative return on equity of 218.81%.

CollPlant Biotechnologies Price Performance

Shares of CLGN traded down $0.14 during mid-day trading on Friday, hitting $3.42. 5,662 shares of the company’s stock were exchanged, compared to its average volume of 124,627. The company has a 50-day simple moving average of $3.44 and a 200 day simple moving average of $3.87. The company has a market cap of $6.47 million, a PE ratio of -0.25 and a beta of 1.76. CollPlant Biotechnologies has a 52 week low of $2.64 and a 52 week high of $26.80.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of CollPlant Biotechnologies in a report on Friday, September 4th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $120.00.

About CollPlant Biotechnologies

CollPlant Biotechnologies Ltd. is an Israel-based regenerative medicine company developing products based on recombinant human collagen (rhCollagen). The company produces rhCollagen using genetically engineered tobacco plants, an approach designed to create collagen with consistent properties and without relying on animal or human tissues.

CollPlant’s technology is intended for use in tissue regeneration, medical aesthetics, wound care and organ manufacturing. Its product portfolio includes rhCollagen-based biomaterials and bioinks for three-dimensional bioprinting, which are designed to support the development of implants, tissue scaffolds and other regenerative medicine applications.

Founded in 2004 and headquartered in Rehovot, Israel, CollPlant has pursued collaborations and licensing arrangements with companies in the medical technology and bioprinting industries.