Canaccord Genuity Group Increases Beauty Health (NASDAQ:SKIN) Price Target to $1.75

Beauty Health (NASDAQ:SKIN) had its target price hoisted by equities research analysts at Canaccord Genuity Group from $1.25 to $1.75 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the stock. Canaccord Genuity Group’s price target indicates a potential downside of 2.23% from the company’s previous close.

A number of other brokerages have also weighed in on SKIN. Piper Sandler restated 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 cut their price target on shares of Beauty Health from $4.00 to $2.00 and set a “hold” rating on the stock in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $2.55.

Beauty Health Price Performance

Shares of SKIN opened at $1.79 on Wednesday. Beauty Health has a twelve month low of $0.91 and a twelve month high of $5.17. The firm’s fifty day simple moving average is $1.57 and its 200-day simple moving average is $1.89. The company has a debt-to-equity ratio of 9.23, a quick ratio of 5.47 and a current ratio of 6.56.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SKIN. Mirae Asset Global Investments Co. Ltd. acquired a new position in Beauty Health in the first quarter valued at $200,000. Russell Investments Group Ltd. purchased a new stake in shares of Beauty Health in the first quarter valued at about $279,000. SageView Advisory Group LLC purchased a new stake in shares of Beauty Health in the first quarter valued at about $60,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Beauty Health by 8.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 75,281 shares of the company’s stock valued at $335,000 after acquiring an additional 5,934 shares in the last quarter. Finally, Bayesian Capital Management LP purchased a new stake in shares of Beauty Health in the first quarter valued at about $521,000. 93.26% of the stock is currently owned by institutional investors and hedge funds.

Beauty Health Company Profile

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.