CollPlant Biotechnologies (NASDAQ:CLGN) Earns “Buy” Rating from D. Boral Capital

D. Boral Capital reiterated their buy rating on shares of CollPlant Biotechnologies (NASDAQ:CLGN) in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a $12.00 price target on the stock.

CollPlant Biotechnologies Price Performance

Shares of CLGN opened at $1.97 on Wednesday. The firm has a market capitalization of $25.06 million, a PE ratio of -1.61 and a beta of 1.47. The company’s 50-day moving average is $1.97 and its 200-day moving average is $2.45. CollPlant Biotechnologies has a fifty-two week low of $1.31 and a fifty-two week high of $5.45.

CollPlant Biotechnologies (NASDAQ:CLGN) last issued its quarterly earnings data on Wednesday, August 20th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.57). The company had revenue of $0.18 million during the quarter, compared to the consensus estimate of $8.91 million. CollPlant Biotechnologies had a negative net margin of 560.92% and a negative return on equity of 87.33%. Analysts predict that CollPlant Biotechnologies will post -1.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CollPlant Biotechnologies

Several institutional investors and hedge funds have recently modified their holdings of CLGN. Wells Fargo & Company MN grew its stake in shares of CollPlant Biotechnologies by 110.1% in the fourth quarter. Wells Fargo & Company MN now owns 8,405 shares of the company’s stock valued at $30,000 after acquiring an additional 4,405 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of CollPlant Biotechnologies in the fourth quarter valued at about $38,000. AMH Equity Ltd grew its stake in shares of CollPlant Biotechnologies by 7.3% in the first quarter. AMH Equity Ltd now owns 125,000 shares of the company’s stock valued at $322,000 after acquiring an additional 8,500 shares in the last quarter. Villere ST Denis J & Co. LLC grew its stake in shares of CollPlant Biotechnologies by 13.0% in the second quarter. Villere ST Denis J & Co. LLC now owns 546,867 shares of the company’s stock valued at $744,000 after acquiring an additional 63,000 shares in the last quarter. Finally, Pinnacle Associates Ltd. grew its stake in shares of CollPlant Biotechnologies by 3.7% in the second quarter. Pinnacle Associates Ltd. now owns 507,193 shares of the company’s stock valued at $690,000 after acquiring an additional 18,000 shares in the last quarter. 21.69% of the stock is currently owned by institutional investors and hedge funds.

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.