CollPlant Biotechnologies (NASDAQ:CLGN) Announces Earnings Results

CollPlant Biotechnologies (NASDAQ:CLGN) announced its quarterly earnings results on Wednesday, September 30th. The company reported ($1.89) 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 business had revenue of $0.11 million for the quarter, compared to analysts’ expectations of $0.48 million.

CollPlant Biotechnologies Stock Performance

CLGN opened at $3.51 on Friday. The stock has a market capitalization of $6.63 million, a P/E ratio of -0.26 and a beta of 1.77. The company’s 50-day simple moving average is $3.49 and its two-hundred day simple moving average is $3.78. CollPlant Biotechnologies has a 52-week low of $2.64 and a 52-week high of $26.80.

Wall Street Analysts Forecast Growth

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

CollPlant Biotechnologies Company Profile

CollPlant Biotechnologies Ltd. (NASDAQ: CLGN) is an Israel-based biotechnology company developing regenerative medicine products and tissue-engineering technologies. The company’s platform uses genetically engineered tobacco plants to produce recombinant human collagen (rhCollagen), a purified collagen material designed to support the repair, replacement, and regeneration of human tissue.

CollPlant develops rhCollagen-based products for applications including 3D bioprinting, tissue engineering, and advanced wound care.