Analyst Swayampakula Ramakanth of H.C. Wainwright maintained a Buy rating on Collplant Holdings (CLGN – Research Report), with a price target of $11.00.
Swayampakula Ramakanth has given his Buy rating due to a combination of factors including Collplant Holdings’ solid financial standing and promising developments in their product pipeline. The company’s recent financial report shows revenues and a net loss per diluted share that were different from consensus estimates. However, with a robust cash position, Ramakanth believes that the company has enough capital to support operations into 2025, mitigating immediate financial risks and underpinning the Buy recommendation.
Furthermore, the initiation of a preclinical study on regenerative breast implants, produced using advanced 3D printing technology and CollPlant’s bioinks, is a key aspect of the company’s growth strategy. This collaboration with Stratasys could potentially lead to significant advancements in the medical field. In addition, the exclusive rights negotiation granted to AbbVie for a novel photocurable dermal filler and the potential for additional milestone payments and royalties contribute to a positive outlook. This potential for revenue generation from product pipelines is a critical element in Ramakanth’s valuation, underpinning his $11 price target based on a risk-adjusted net present value analysis.
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Collplant Holdings (CLGN) Company Description:
CollPlant Biotechnologies Ltd. is a regenerative medicine company. It engages in the research, development, manufacture and marketing of medical products for tissue repair, initially for orthobiologics and advanced wound care markets. The company’s products include VergenixSTR, VergenixFG, CollPlant Surgical Matrix. Collplant Holdings was founded by in June 2004 and is headquartered in Ness-Ziona, Israel.
