CollPlant Biotechnologies (NASDAQ:CLGN) Issues Quarterly Earnings Results

CollPlant Biotechnologies (NASDAQ:CLGN) issued its quarterly earnings results on Wednesday. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.08, Zacks reports. The business had revenue of $0.17 million for the quarter, compared to analysts’ expectations of $0.36 million. CollPlant Biotechnologies had a negative net margin of 2,680.00% and a negative return on equity of 77.05%.

CollPlant Biotechnologies Stock Down 2.8 %

CLGN stock traded down $0.08 during mid-day trading on Thursday, hitting $2.64. The company had a trading volume of 285 shares, compared to its average volume of 10,573. The company has a market capitalization of $30.18 million, a price-to-earnings ratio of -1.71 and a beta of 1.07. The company has a 50-day moving average price of $3.50 and a 200 day moving average price of $3.96. CollPlant Biotechnologies has a 12-month low of $2.56 and a 12-month high of $6.75.

Analysts Set New Price Targets

A number of brokerages recently commented on CLGN. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 target price on shares of CollPlant Biotechnologies in a report on Friday, November 29th. D. Boral Capital reaffirmed a “buy” rating and set a $14.00 price objective on shares of CollPlant Biotechnologies in a research report on Thursday.

CollPlant Biotechnologies Company Profile

CollPlant Biotechnologies Ltd., a regenerative and aesthetic medicine company, focuses on three-dimensional (3D) bioprinting of tissues and organs, and medical aesthetics in the United States, Canada, Israel, Europe, and internationally. Its products are based on recombinant type I human collagen that is produced with its proprietary plant based genetic engineering technology.