TD Cowen Initiates Coverage on Waldencast (NASDAQ:WALD)

Investment analysts at TD Cowen assumed coverage on shares of Waldencast (NASDAQ:WALD) in a research report issued on Monday, MarketBeat Ratings reports. The firm set a “hold” rating and a $4.30 price target on the stock. TD Cowen’s target price points to a potential upside of 10.26% from the company’s current price.

Several other equities analysts have also recently weighed in on the company. Telsey Advisory Group reaffirmed an “outperform” rating and set a $6.00 target price on shares of Waldencast in a research note on Monday, November 18th. Canaccord Genuity Group raised their price target on shares of Waldencast from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. DA Davidson upped their price objective on shares of Waldencast from $7.25 to $7.50 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Canaccord Genuity Group began coverage on shares of Waldencast in a research report on Friday, October 25th. They issued a “buy” rating and a $5.00 target price for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.76.

Waldencast Trading Up 2.9 %

Shares of WALD stock opened at $3.90 on Monday. Waldencast has a 1-year low of $2.40 and a 1-year high of $12.00. The company has a current ratio of 1.47, a quick ratio of 0.78 and a debt-to-equity ratio of 0.21. The stock’s fifty day simple moving average is $3.44 and its 200-day simple moving average is $3.51.

Hedge Funds Weigh In On Waldencast

Hedge funds have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. lifted its stake in Waldencast by 293.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,854 shares of the company’s stock valued at $25,000 after acquiring an additional 5,114 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Waldencast during the 2nd quarter valued at $37,000. Catalina Capital Group LLC acquired a new stake in shares of Waldencast in the 3rd quarter valued at $58,000. McAdam LLC bought a new stake in Waldencast in the third quarter worth $62,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Waldencast in the second quarter worth $85,000. Institutional investors and hedge funds own 41.97% of the company’s stock.

About Waldencast

Waldencast plc operates in the beauty and wellness business. The company engages in developing, acquiring, accelerating, and scaling various brands. It provides cosmetic, over-the-counter, and prescription products under the Obagi Medical, Obagi Clinical, and Obagi Professional brands; and a Skintrinsiq device for use in facial treatments that is used by physicians' offices, spas, and aestheticians.