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

CollPlant Biotechnologies (NASDAQ:CLGN) posted its quarterly earnings data on Wednesday. The company reported ($1.89) EPS for the quarter, beating the consensus estimate of ($2.45) by $0.56, Zacks reports. The business had revenue of $0.11 million during the quarter, compared to analyst estimates of $0.48 million. CollPlant Biotechnologies had a negative net margin of 678.37% and a negative return on equity of 298.21%.

CollPlant Biotechnologies Stock Performance

NASDAQ CLGN opened at $3.41 on Tuesday. The stock has a 50 day moving average price of $3.45 and a 200-day moving average price of $3.83. CollPlant Biotechnologies has a one year low of $2.64 and a one year high of $26.80. The company has a market capitalization of $6.44 million, a P/E ratio of -0.25 and a beta of 1.77.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated 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 assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average 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.