TD Cowen Forecasts Strong Price Appreciation for Beauty Health (NASDAQ:SKIN) Stock

Beauty Health (NASDAQ:SKIN) had its target price boosted by stock analysts at TD Cowen from $1.50 to $1.65 in a report issued on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the stock. TD Cowen’s target price would indicate a potential upside of 8.20% from the company’s previous close.

Several other research firms have also issued reports on SKIN. Weiss Ratings restated a “sell (d-)” rating on shares of Beauty Health in a research report on Friday, October 31st. Zacks Research cut Beauty Health from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Jefferies Financial Group reiterated a “hold” rating and issued a $1.60 price objective on shares of Beauty Health in a report on Wednesday, January 14th. Wall Street Zen lowered Beauty Health from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Cowen restated a “hold” rating on shares of Beauty Health in a report on Wednesday. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Beauty Health has a consensus rating of “Hold” and an average price target of $2.40.

Beauty Health Stock Performance

NASDAQ SKIN traded up $0.09 during midday trading on Wednesday, hitting $1.53. The company had a trading volume of 225,189 shares, compared to its average volume of 340,002. The company has a quick ratio of 4.07, a current ratio of 4.98 and a debt-to-equity ratio of 5.53. The firm has a fifty day simple moving average of $1.44 and a two-hundred day simple moving average of $1.70. Beauty Health has a fifty-two week low of $0.78 and a fifty-two week high of $2.69. The stock has a market cap of $194.44 million, a price-to-earnings ratio of -6.93 and a beta of 1.16.

Beauty Health (NASDAQ:SKIN) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The firm had revenue of $70.66 million for the quarter, compared to the consensus estimate of $68.33 million. Beauty Health had a negative net margin of 3.87% and a negative return on equity of 19.70%. Equities analysts forecast that Beauty Health will post -0.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Beauty Health

Hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio bought a new position in shares of Beauty Health during the 3rd quarter valued at $26,000. Franklin Resources Inc. bought a new position in shares of Beauty Health during the third quarter valued at about $31,000. Zacks Investment Management purchased a new position in shares of Beauty Health in the third quarter worth about $35,000. Ameriprise Financial Inc. bought a new stake in shares of Beauty Health in the 3rd quarter valued at about $38,000. Finally, ProShare Advisors LLC boosted its holdings in Beauty Health by 45.5% during the 2nd quarter. ProShare Advisors LLC now owns 23,447 shares of the company’s stock valued at $45,000 after acquiring an additional 7,336 shares during the period. 93.26% of the stock is currently owned by institutional investors.

Beauty Health Company Profile

Beauty Health Company (NASDAQ: SKIN) is a U.S.-based consumer wellness and beauty enterprise that integrates device-based and product-based offerings across skin, body and hair wellness categories. The company operates a portfolio of established brands that blend professional and at-home solutions, focusing on innovative formulations and technologies to address a range of beauty and self-care needs. Through its proprietary e-commerce platforms and strategic retail partnerships, Beauty Health seeks to deliver premium experiences and tangible results to a global customer base.

Beauty Health’s brand portfolio includes Sol de Janeiro, known for its award-winning Brazilian Bum Bum Cream body care collection; Elemis, a U.K.-originated professional skin care line distributed in spas and skincare clinics; NuFACE and Dermaflash, two at-home beauty device brands specializing in microcurrent facial toning and gentle exfoliation respectively; and Nutrafol, a legal-strength hair wellness supplement clinically designed to support hair growth.