Beauty Health (NASDAQ:SKIN) Given New $1.75 Price Target at Canaccord Genuity Group

Beauty Health (NASDAQ:SKIN) had its price target lifted by Canaccord Genuity Group from $1.25 to $1.75 in a report published on Wednesday,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the stock.

Several other analysts have also commented on SKIN. Piper Sandler reissued an “underweight” rating and issued a $1.00 price objective (down from $1.50) on shares of Beauty Health in a report on Friday, August 9th. Stifel Nicolaus dropped their price objective on Beauty Health from $4.00 to $2.00 and set a “hold” rating on the stock in a report on Friday, July 26th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. According to MarketBeat, Beauty Health currently has a consensus rating of “Hold” and a consensus target price of $2.54.

Beauty Health Stock Up 8.8 %

Shares of SKIN stock opened at $1.85 on Wednesday. The company has a current ratio of 6.49, a quick ratio of 5.47 and a debt-to-equity ratio of 7.96. Beauty Health has a twelve month low of $0.91 and a twelve month high of $5.17. The stock has a 50 day moving average of $1.57 and a 200 day moving average of $1.89. The stock has a market cap of $229.44 million, a P/E ratio of -4.40 and a beta of 0.90.

Institutional Investors Weigh In On Beauty Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Beauty Health in the 1st quarter valued at $4,297,000. Cohen Capital Management Inc. raised its holdings in shares of Beauty Health by 344.1% in the 3rd quarter. Cohen Capital Management Inc. now owns 572,848 shares of the company’s stock valued at $825,000 after buying an additional 443,859 shares during the period. Federated Hermes Inc. raised its holdings in shares of Beauty Health by 349,616.0% in the 2nd quarter. Federated Hermes Inc. now owns 370,699 shares of the company’s stock valued at $712,000 after buying an additional 370,593 shares during the period. Bayesian Capital Management LP purchased a new stake in shares of Beauty Health in the 1st quarter valued at $521,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Beauty Health by 24.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 348,108 shares of the company’s stock valued at $668,000 after buying an additional 69,329 shares during the period. Hedge funds and other institutional investors own 93.26% of the company’s stock.

About Beauty Health

The Beauty Health Company designs, develops, manufactures, markets, and sells aesthetic technologies and products worldwide. The company's flagship product includes HydraFacial that enhance the skin to cleanse, extract, and hydrate the skin with proprietary solutions and serums. Its products also comprise Syndeo, a Delivery System designs to connects providers to the consumer's preferences to create a more personalized experience; consumables, such as single-use tips, solutions, and serums used to provide a hydrafacial treatment; SkinStylus SteriLock Microsystem, a microneedling device used for the treatment of enhancing appearance of surgical or traumatic hypertrophic scars on the abdomen and facial acne scarring in Fitzpatrick skin types I, II, and III; and Keravive, a treatment for scalp health.