CollPlant Biotechnologies (NASDAQ:CLGN) Posts Earnings Results, Beats Expectations By $0.01 EPS

CollPlant Biotechnologies (NASDAQ:CLGN) issued its quarterly earnings data on Saturday, May 30th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.01, Zacks reports. The firm had revenue of $0.07 million for the quarter, compared to analyst estimates of $0.46 million. CollPlant Biotechnologies had a negative return on equity of 218.81% and a negative net margin of 683.68%.

CollPlant Biotechnologies Price Performance

Shares of NASDAQ CLGN opened at $0.35 on Wednesday. CollPlant Biotechnologies has a 1 year low of $0.27 and a 1 year high of $3.23. The stock has a market cap of $5.10 million, a P/E ratio of -0.24 and a beta of 1.60. The firm has a 50-day moving average of $0.38 and a 200 day moving average of $0.75.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of CollPlant Biotechnologies from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday, June 8th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, CollPlant Biotechnologies has a consensus rating of “Hold” and an average target price of $11.50.

CollPlant Biotechnologies Company Profile

CollPlant Biotechnologies Ltd. (NASDAQ: CLGN) is a regenerative medicine company that develops and commercializes recombinant human collagen (rhCollagen) and 3D bioprinting technologies for medical and aesthetic applications. The company’s proprietary plant-based rhCollagen is produced using genetically engineered tobacco plants to provide a scalable, animal-free source of human collagen that meets regulatory standards.

CollPlant’s product portfolio includes Vergenix™ wound care matrices and dermal fillers for aesthetic and reconstructive purposes, as well as a range of bioinks designed for 3D bioprinting of soft and hard tissues.