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

Beauty Health (NASDAQ:SKIN) had its price target upped by Canaccord Genuity Group from $1.25 to $1.75 in a research note issued to investors on Wednesday morning,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the stock.

A number of other research analysts also recently issued reports on SKIN. Stifel Nicolaus cut their target price on shares of Beauty Health from $4.00 to $2.00 and set a “hold” rating on the stock in a research report on Friday, July 26th. 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $2.55.

Beauty Health Stock Performance

Shares of SKIN opened at $1.53 on Wednesday. The stock’s fifty day simple moving average is $1.57 and its 200-day simple moving average is $1.87. Beauty Health has a 12-month low of $0.91 and a 12-month high of $5.17. The company has a quick ratio of 5.47, a current ratio of 6.56 and a debt-to-equity ratio of 9.23.

Institutional Trading of Beauty Health

Institutional investors and hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its holdings in Beauty Health by 8.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 75,281 shares of the company’s stock valued at $335,000 after purchasing an additional 5,934 shares during the period. SageView Advisory Group LLC bought a new position in shares of Beauty Health during the first quarter worth $60,000. Atom Investors LP grew its holdings in shares of Beauty Health by 19.7% in the 3rd quarter. Atom Investors LP now owns 99,924 shares of the company’s stock valued at $144,000 after buying an additional 16,416 shares during the period. Caprock Group LLC bought a new stake in shares of Beauty Health in the 2nd quarter valued at $38,000. Finally, 180 Wealth Advisors LLC lifted its holdings in Beauty Health by 25.3% during the second quarter. 180 Wealth Advisors LLC now owns 101,855 shares of the company’s stock worth $187,000 after acquiring an additional 20,570 shares in the last quarter. 93.26% of the stock is owned by institutional investors.

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.