Beauty Health (NASDAQ:SKIN) Price Target Cut to $2.50 by Analysts at Piper Sandler

Beauty Health (NASDAQ:SKIN) had its price target decreased by Piper Sandler from $3.00 to $2.50 in a report issued on Friday, Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Piper Sandler’s price target indicates a potential downside of 30.56% from the stock’s current price.

Several other analysts have also recently weighed in on SKIN. TD Cowen increased their price target on shares of Beauty Health from $2.50 to $4.00 and gave the company a “market perform” rating in a research note on Wednesday, March 13th. Stifel Nicolaus restated a “hold” rating and issued a $4.00 price objective (up from $3.00) on shares of Beauty Health in a report on Wednesday, March 13th. Canaccord Genuity Group increased their target price on shares of Beauty Health from $3.00 to $4.00 and gave the stock a “hold” rating in a research note on Thursday, March 14th. Finally, DA Davidson reissued a “buy” rating and issued a $5.00 price target on shares of Beauty Health in a research note on Friday, March 15th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Beauty Health currently has a consensus rating of “Hold” and an average target price of $6.43.

Beauty Health Price Performance

NASDAQ:SKIN opened at $3.60 on Friday. Beauty Health has a one year low of $1.35 and a one year high of $10.98. The stock has a market cap of $444.35 million, a PE ratio of -4.68 and a beta of 1.13. The company has a debt-to-equity ratio of 12.43, a quick ratio of 5.28 and a current ratio of 6.07. The stock has a 50 day moving average price of $3.70 and a 200 day moving average price of $3.29.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in shares of Beauty Health during the third quarter worth $176,000. Levin Capital Strategies L.P. increased its holdings in Beauty Health by 100.0% during the 3rd quarter. Levin Capital Strategies L.P. now owns 20,000 shares of the company’s stock worth $120,000 after purchasing an additional 10,000 shares during the period. 180 Wealth Advisors LLC acquired a new stake in Beauty Health in the 3rd quarter valued at about $172,000. M&T Bank Corp boosted its stake in shares of Beauty Health by 6.8% in the 3rd quarter. M&T Bank Corp now owns 125,706 shares of the company’s stock valued at $756,000 after buying an additional 8,036 shares during the period. Finally, Olympiad Research LP purchased a new position in shares of Beauty Health in the 3rd quarter valued at about $287,000. Institutional investors and hedge funds 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.