CollPlant Biotechnologies (NASDAQ:CLGN – Get Free Report) issued its earnings results on Wednesday. The company reported ($1.89) EPS for the quarter, topping the consensus estimate of ($2.45) by $0.56, FiscalAI reports. CollPlant Biotechnologies had a negative return on equity of 218.81% and a negative net margin of 683.68%.The company had revenue of $0.11 million during the quarter, compared to analyst estimates of $0.48 million.
CollPlant Biotechnologies Trading Down 0.3%
Shares of NASDAQ CLGN opened at $3.78 on Thursday. The stock has a 50 day simple moving average of $3.43 and a 200-day simple moving average of $3.89. The company has a market cap of $7.15 million, a PE ratio of -0.26 and a beta of 1.79. CollPlant Biotechnologies has a 12-month low of $2.64 and a 12-month high of $26.80.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of CollPlant Biotechnologies in a research report on Friday, September 4th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price 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.
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