Analysts Set The Beauty Health Company (NASDAQ:SKIN) Target Price at $6.50

The Beauty Health Company (NASDAQ:SKIN) has been given a consensus rating of “Reduce” by the twelve brokerages that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $6.50.

Several analysts have commented on SKIN shares. Canaccord Genuity Group lifted their price objective on shares of Beauty Health from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Thursday, March 14th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $4.00 price objective (up previously from $3.00) on shares of Beauty Health in a research report on Wednesday, March 13th. Piper Sandler reaffirmed an “underweight” rating and issued a $3.00 price objective (up previously from $2.00) on shares of Beauty Health in a research report on Wednesday, March 13th. DA Davidson reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Beauty Health in a research report on Friday, March 15th. Finally, TD Cowen lifted their price objective on shares of Beauty Health from $2.50 to $4.00 and gave the stock a “market perform” rating in a research report on Wednesday, March 13th.

Beauty Health Stock Down 2.9 %

Beauty Health stock opened at $3.06 on Friday. Beauty Health has a fifty-two week low of $1.35 and a fifty-two week high of $11.82. The stock has a market cap of $377.70 million, a PE ratio of -3.97 and a beta of 1.01. The firm’s 50-day simple moving average is $3.65 and its 200 day simple moving average is $3.43. The company has a debt-to-equity ratio of 12.43, a quick ratio of 5.28 and a current ratio of 6.07.

Beauty Health (NASDAQ:SKIN) last released its quarterly earnings results on Tuesday, March 12th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.04. Beauty Health had a negative net margin of 25.65% and a negative return on equity of 18.85%. The business had revenue of $96.80 million for the quarter, compared to analysts’ expectations of $87.22 million. During the same period in the previous year, the company earned $0.03 earnings per share. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. Research analysts predict that Beauty Health will post -0.1 EPS for the current fiscal year.

Institutional Trading of Beauty Health

Hedge funds and other institutional investors have recently modified their holdings of the business. Dark Forest Capital Management LP raised its position in shares of Beauty Health by 583.0% in the third quarter. Dark Forest Capital Management LP now owns 377,114 shares of the company’s stock valued at $2,270,000 after purchasing an additional 321,898 shares during the period. Olympiad Research LP purchased a new position in Beauty Health during the third quarter valued at approximately $287,000. Braidwell LP purchased a new position in Beauty Health during the third quarter valued at approximately $9,790,000. Graham Capital Management L.P. purchased a new position in Beauty Health during the third quarter valued at approximately $1,057,000. Finally, Aigen Investment Management LP purchased a new position in Beauty Health during the third quarter valued at approximately $102,000. Institutional investors own 93.26% of the company’s stock.

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.