Canaccord Genuity Group Forecasts Strong Price Appreciation for Beauty Health (NASDAQ:SKIN) Stock

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

Several other brokerages have also recently weighed in on SKIN. Piper Sandler reaffirmed an “underweight” rating and set a $1.00 price target (down from $1.50) on shares of Beauty Health in a research note on Friday, August 9th. Stifel Nicolaus decreased their target price on shares of Beauty Health from $4.00 to $2.00 and set a “hold” rating for the company in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, Beauty Health has a consensus rating of “Hold” and an average price target of $2.55.

Beauty Health Stock Down 14.5 %

Shares of SKIN opened at $1.53 on Wednesday. Beauty Health has a twelve month low of $0.91 and a twelve month high of $5.17. The company has a 50 day moving average of $1.57 and a 200-day moving average of $1.88. 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

Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in shares of Beauty Health in the third quarter worth approximately $37,000. Caprock Group LLC acquired a new position in shares of Beauty Health in the second quarter worth approximately $38,000. Sanctuary Advisors LLC acquired a new position in Beauty Health in the second quarter valued at approximately $47,000. SageView Advisory Group LLC acquired a new position in Beauty Health in the first quarter valued at approximately $60,000. Finally, Orion Portfolio Solutions LLC acquired a new position in Beauty Health in the third quarter valued at approximately $65,000. 93.26% of the stock is currently 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.