CollPlant Biotechnologies (NASDAQ:CLGN) Issues Earnings Results

CollPlant Biotechnologies (NASDAQ:CLGN) released its earnings results on Wednesday, September 30th. The company reported ($1.89) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.45) by $0.56, Zacks reports. CollPlant Biotechnologies had a negative return on equity of 298.21% and a negative net margin of 678.37%.The firm had revenue of $0.11 million during the quarter, compared to analysts’ expectations of $0.48 million.

CollPlant Biotechnologies Stock Performance

CLGN traded up $0.07 on Wednesday, reaching $3.46. The company had a trading volume of 22,799 shares, compared to its average volume of 123,182. The stock has a market cap of $6.54 million, a P/E ratio of -0.25 and a beta of 1.77. CollPlant Biotechnologies has a fifty-two week low of $2.64 and a fifty-two week high of $26.80. The company’s fifty day moving average is $3.45 and its 200 day moving average is $3.82.

Analysts Set New Price Targets

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

CollPlant Biotechnologies Company Profile

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.