Canaccord Genuity Group Increases Beauty Health (NASDAQ:SKIN) Price Target to $4.00

Beauty Health (NASDAQ:SKIN) had its target price lifted by Canaccord Genuity Group from $3.00 to $4.00 in a research report report published on Thursday, Benzinga reports. The firm currently has a hold rating on the stock.

SKIN has been the topic of several other research reports. Jefferies Financial Group cut shares of Beauty Health from a buy rating to a hold rating in a research report on Wednesday, November 15th. DA Davidson restated a buy rating and issued a $5.00 target price on shares of Beauty Health in a report on Friday. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $6.50.

Beauty Health Price Performance

SKIN stock remained flat at $3.61 during mid-day trading on Thursday. 2,732,594 shares of the company’s stock traded hands, compared to its average volume of 2,970,931. The company has a market capitalization of $473.87 million, a P/E ratio of -4.69 and a beta of 0.94. The firm’s 50-day moving average price is $3.08 and its 200-day moving average price is $3.83. The company has a quick ratio of 5.27, a current ratio of 6.07 and a debt-to-equity ratio of 12.43. Beauty Health has a 1-year low of $1.35 and a 1-year high of $13.90.

Beauty Health (NASDAQ:SKIN) last announced its quarterly earnings results on Tuesday, March 12th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. Beauty Health had a negative return on equity of 18.85% and a negative net margin of 25.65%. The company had revenue of $96.80 million during the quarter, compared to analyst estimates of $87.22 million. During the same period in the prior year, the company earned $0.03 earnings per share. The firm’s revenue was down 1.3% on a year-over-year basis. As a group, analysts expect that Beauty Health will post -0.12 EPS for the current year.

Institutional Trading of Beauty Health

Several institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Beauty Health during the fourth quarter worth $31,000. Raymond James & Associates purchased a new position in Beauty Health in the 4th quarter worth about $31,000. Ethic Inc. bought a new stake in Beauty Health during the 4th quarter valued at about $33,000. Tower Research Capital LLC TRC boosted its position in Beauty Health by 172.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,666 shares of the company’s stock valued at $56,000 after buying an additional 4,217 shares during the period. Finally, State of Wyoming boosted its position in Beauty Health by 46.4% in the 4th quarter. State of Wyoming now owns 6,791 shares of the company’s stock valued at $62,000 after buying an additional 2,152 shares during the period.

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 HydraFacial Delivery System designed to elevate every part of the treatment and connects providers to the consumer's preferences to create a more personalized experience; HydraFacial Nation App, an app that allows consumers to learn about their skin health, discover treatment options, and track their treatments over time; and Keravive, a treatment for scalp health.