Beauty Health (NASDAQ:SKIN) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

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

SKIN has been the subject of a number of other research reports. Piper Sandler reiterated an “underweight” rating and set a $1.00 price objective (down previously from $1.50) on shares of Beauty Health in a research report on Friday, August 9th. Stifel Nicolaus reduced their price objective on Beauty Health from $4.00 to $2.00 and set a “hold” rating for the company in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $2.55.

Beauty Health Stock Performance

Shares of Beauty Health stock opened at $1.53 on Wednesday. Beauty Health has a fifty-two week low of $0.91 and a fifty-two week high of $5.17. The company has a debt-to-equity ratio of 9.23, a quick ratio of 5.47 and a current ratio of 6.56. The business has a fifty day simple moving average of $1.57 and a 200-day simple moving average of $1.87.

Institutional Trading of Beauty Health

Several large investors have recently modified their holdings of SKIN. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Beauty Health during the 1st quarter worth about $200,000. Russell Investments Group Ltd. bought a new stake in shares of Beauty Health in the 1st quarter valued at approximately $279,000. SageView Advisory Group LLC bought a new stake in Beauty Health in the first quarter valued at $60,000. Price T Rowe Associates Inc. MD increased its position in shares of Beauty Health by 8.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 75,281 shares of the company’s stock worth $335,000 after purchasing an additional 5,934 shares in the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in shares of Beauty Health during the first quarter worth approximately $521,000. 93.26% of the stock is owned by institutional investors.

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.