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

Beauty Health (NASDAQ:SKIN) had its price target increased by analysts at TD Cowen from $1.50 to $1.65 in a note issued to investors on Wednesday, MarketBeat Ratings reports. The firm presently has a “hold” rating on the stock. TD Cowen’s target price suggests a potential upside of 5.77% from the stock’s previous close.

A number of other analysts have also commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Beauty Health in a research note on Friday, October 31st. Zacks Research downgraded shares of Beauty Health from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Jefferies Financial Group restated a “hold” rating and issued a $1.60 target price on shares of Beauty Health in a report on Wednesday, January 14th. Finally, Wall Street Zen downgraded Beauty Health from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $2.40.

Beauty Health Trading Up 1.3%

Shares of NASDAQ:SKIN opened at $1.56 on Wednesday. The stock has a market capitalization of $198.90 million, a price-to-earnings ratio of -7.09 and a beta of 1.16. Beauty Health has a 1-year low of $0.78 and a 1-year high of $2.69. The company has a debt-to-equity ratio of 5.53, a quick ratio of 4.07 and a current ratio of 4.98. The company has a 50 day moving average price of $1.45 and a 200 day moving average price of $1.70.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Mirabella Financial Services LLP lifted its stake in shares of Beauty Health by 21.3% in the third quarter. Mirabella Financial Services LLP now owns 15,596,277 shares of the company’s stock valued at $31,037,000 after buying an additional 2,734,728 shares during the period. Woodline Partners LP raised its holdings in Beauty Health by 255.9% in the 3rd quarter. Woodline Partners LP now owns 5,930,027 shares of the company’s stock valued at $11,801,000 after acquiring an additional 4,263,997 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Beauty Health by 27.5% in the 2nd quarter. Geode Capital Management LLC now owns 2,302,784 shares of the company’s stock worth $4,399,000 after acquiring an additional 496,963 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in shares of Beauty Health by 11.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,210,898 shares of the company’s stock worth $2,410,000 after acquiring an additional 127,994 shares during the period. Finally, Soleus Capital Management L.P. acquired a new stake in shares of Beauty Health during the 2nd quarter worth approximately $1,910,000. Institutional investors and hedge funds own 93.26% of the company’s stock.

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.