Canaccord Genuity Group Issues Positive Forecast for Beauty Health (NASDAQ:SKIN) Stock Price

Beauty Health (NASDAQ:SKIN - Get Free Report) had its price objective raised by equities researchers 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 objective points to a potential downside of 5.41% from the company's current price.

A number of other equities analysts have also recently issued reports on SKIN. Piper Sandler restated an "underweight" rating and set a $1.00 target price (down previously from $1.50) on shares of Beauty Health in a report on Friday, August 9th. Stifel Nicolaus lowered 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. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $2.54.

Beauty Health Trading Up 8.8 %

Shares of NASDAQ:SKIN traded up $0.15 during trading on Wednesday, hitting $1.85. 2,350,726 shares of the company's stock were exchanged, compared to its average volume of 1,875,120. The firm has a 50-day moving average price of $1.57 and a two-hundred day moving average price of $1.89. Beauty Health has a 1-year low of $0.91 and a 1-year high of $5.17. The firm has a market cap of $229.44 million, a P/E ratio of -4.46 and a beta of 0.90. The company has a current ratio of 6.49, a quick ratio of 5.47 and a debt-to-equity ratio of 7.96.

Institutional Investors Weigh In On Beauty Health

Several large investors have recently made changes to their positions in SKIN. SageView Advisory Group LLC bought a new stake in Beauty Health in the 1st quarter valued at $60,000. Caprock Group LLC bought a new stake in shares of Beauty Health in the second quarter valued at about $38,000. Sanctuary Advisors LLC bought a new stake in shares of Beauty Health in the second quarter valued at about $47,000. SG Americas Securities LLC acquired a new position in shares of Beauty Health during the third quarter worth about $37,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Beauty Health during the first quarter worth about $200,000. Institutional investors own 93.26% of the company's stock.

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.