Beauty Health (NASDAQ:SKIN) Price Target Lowered to $20.00 at Canaccord Genuity Group

Beauty Health (NASDAQ:SKINGet Rating) had its price target reduced by Canaccord Genuity Group from $22.00 to $20.00 in a research note issued to investors on Thursday morning, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the company. Benchmark lifted their price objective on Beauty Health from $18.00 to $23.00 and gave the stock a buy rating in a research note on Monday, March 14th. Piper Sandler decreased their target price on Beauty Health from $26.00 to $24.00 in a research note on Wednesday, May 11th. JPMorgan Chase & Co. began coverage on Beauty Health in a research note on Friday, March 11th. They issued an overweight rating and a $24.00 target price for the company. Canaccord Genuity Group decreased their target price on Beauty Health from $27.00 to $22.00 in a research note on Wednesday, May 11th. Finally, DA Davidson decreased their target price on Beauty Health from $35.00 to $24.00 in a research note on Wednesday, May 11th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Beauty Health currently has an average rating of Moderate Buy and an average target price of $24.70.

Shares of Beauty Health stock opened at $12.87 on Thursday. The company has a quick ratio of 13.57, a current ratio of 14.25 and a debt-to-equity ratio of 2.14. Beauty Health has a 12 month low of $9.94 and a 12 month high of $30.17. The business has a fifty day simple moving average of $12.77 and a 200 day simple moving average of $15.55. The stock has a market cap of $1.93 billion, a PE ratio of -3.79 and a beta of 1.66.

Beauty Health (NASDAQ:SKINGet Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). Beauty Health had a negative return on equity of 0.01% and a negative net margin of 117.84%. The company had revenue of $75.40 million for the quarter, compared to analyst estimates of $68.15 million. The firm’s revenue was up 58.7% compared to the same quarter last year. Analysts expect that Beauty Health will post 0.06 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of the company. Bank of America Corp DE lifted its holdings in shares of Beauty Health by 4.9% in the first quarter. Bank of America Corp DE now owns 184,257 shares of the company’s stock valued at $3,111,000 after purchasing an additional 8,582 shares in the last quarter. Verition Fund Management LLC bought a new stake in shares of Beauty Health in the first quarter valued at about $598,000. Advisory Services Network LLC bought a new stake in shares of Beauty Health in the first quarter valued at about $308,000. Point72 Hong Kong Ltd bought a new stake in shares of Beauty Health in the first quarter valued at about $189,000. Finally, Prospect Capital Advisors LLC lifted its holdings in shares of Beauty Health by 11.0% in the first quarter. Prospect Capital Advisors LLC now owns 256,200 shares of the company’s stock valued at $4,325,000 after purchasing an additional 25,450 shares in the last quarter. Institutional investors own 72.01% of the company’s stock.

About Beauty Health (Get Rating)

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, peel, exfoliate, extract, infuse, and hydrate the skin with proprietary solutions and serums.

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