CollPlant Biotechnologies (NASDAQ:CLGN) Announces Earnings Results, Misses Expectations By $0.57 EPS

CollPlant Biotechnologies (NASDAQ:CLGN) posted its earnings results on Wednesday. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.57), Zacks reports. CollPlant Biotechnologies had a negative net margin of 560.92% and a negative return on equity of 87.33%. The firm had revenue of $0.18 million for the quarter, compared to analysts’ expectations of $8.91 million.

CollPlant Biotechnologies Trading Down 19.9%

Shares of CollPlant Biotechnologies stock opened at $1.97 on Thursday. The firm’s 50 day simple moving average is $1.97 and its two-hundred day simple moving average is $2.45. The firm has a market capitalization of $25.06 million, a price-to-earnings ratio of -1.61 and a beta of 1.47. CollPlant Biotechnologies has a 12-month low of $1.31 and a 12-month high of $5.45.

Wall Street Analysts Forecast Growth

Separately, D. Boral Capital reiterated a “buy” rating and set a $12.00 price objective on shares of CollPlant Biotechnologies in a report on Wednesday. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $11.50.

About CollPlant Biotechnologies

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.