NEW YORK - Obagi Medical, a subsidiary of Waldencast plc (NASDAQ: WALD), has expanded its ELASTIDERM® collection with two new products aimed at improving skin appearance and texture. The ELASTIDERM® Lift Up & Sculpt Facial Moisturizer and ELASTIDERM® Advanced Filler Concentrate were launched today, promising transformative skincare results.
The Facial Moisturizer is said to visibly lift and sculpt facial contours, with clinical tests suggesting improved fullness, smoothness, and skin texture within six weeks. It utilizes Obagi's patented Bi-Mineral Contour Complex™, combining Zinc, Copper, and Malonate for skin elasticity support, and Polyglutamic Acid for hydration and fine line reduction.
The Advanced Filler Concentrate, designed for fine lines and wrinkles, offers immediate filling effects and long-term wrinkle diminishment. This topical product features Acetyl Hexapeptide-1, known for its re-plumping and wrinkle-smoothing benefits.
Eman Kadhim, Head of Scientific Communications & Upstream Innovation at Waldencast, highlighted the rigorous testing and effectiveness of the proprietary components in enhancing skin elasticity and hydration. Justin Giouzepis, Chief Marketing Officer of Obagi Cosmeceuticals, emphasized the products' role in complementing anti-aging treatments in professional settings, as well as providing high-quality alternatives for at-home care.
The new ELASTIDERM® products are priced at $135 for the Facial Moisturizer and $115 for the Filler Concentrate, available through professional channels and on Obagi.com starting September 23rd.
Obagi Medical is renowned for its advanced skincare lines, addressing issues like aging, photodamage, and skin discoloration. Waldencast, the parent company, focuses on developing purpose-driven beauty and wellness brands.
This news is based on a press release statement and aims to present the introduction of new skincare products by Obagi, without endorsing the claims.
In other recent news, Waldencast Acquisition Corp. has seen a revision of its stock target by investment firm DA Davidson, which has raised it from the previous $6.50 to $7.25. This adjustment comes in the wake of the company's reported second-quarter sales surpassing expectations, despite an EBITDA miss attributed to an underestimation of the typical seasonal decline. Waldencast, active in the beauty and wellness sector, experienced notable sales growth in its Obagi and Milk brands, although product availability issues curtailed potential further growth. DA Davidson has noted that Waldencast predicts an acceleration in sales growth for the second half of 2024 and maintains its expectation for a mid-teens EBITDA margin for the year, a significant increase from the 11.2% margin in 2023. Consequently, DA Davidson has revised its 2024 sales growth estimate for Waldencast to 24% year-over-year, up from the initially projected 15%, and has also increased its EBITDA estimates by 7%. The new price target of $7.25 is based on a 27-times multiple of the firm's revised 2025 EBITDA projection of $50 million, an increase from the prior estimate of $46 million. These are the recent developments for Waldencast.
InvestingPro Insights
As Waldencast plc (NASDAQ: WALD) introduces new products to enhance its ELASTIDERM® collection, investors and skincare enthusiasts alike may be interested in the company's financial health and market performance. According to InvestingPro, Waldencast boasts a high gross profit margin of 69.71% for the last twelve months as of Q2 2024, indicating a strong ability to control production costs relative to sales—a key factor in sustaining product development and marketing efforts for its skincare lines.
Despite recent product launches, analysts have noted that Waldencast has not been profitable over the last year, with a negative price-to-earnings (P/E) ratio of -5.91, reflecting challenges in turning revenues into net income. However, with an InvestingPro Tip highlighting significant sales growth anticipated in the current year, there may be potential for a turnaround as the new ELASTIDERM® products gain market traction.
InvestingPro also reveals a noteworthy market trend for Waldencast: the stock price often moves in the opposite direction of the market. This could indicate that Waldencast's stock is less correlated with broader market movements, potentially offering a degree of diversification for investors' portfolios. For those considering an investment in Waldencast, additional analysis and 12 more InvestingPro Tips are available, providing deeper insights into the company's financials and stock performance.
Investors can explore these metrics and tips in more detail by visiting InvestingPro at: https://www.investing.com/pro/WALD.
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