Bank of America Issues Positive Forecast for Hinge Health (NYSE:HNGE) Stock Price

Key Points

• Bank of America increased its price target for Hinge Health (NYSE:HNGE) from $42.00 to $64.00, indicating a potential upside of 31.17% from its current price.
• Multiple research firms have initiated coverage on Hinge Health, with ratings ranging from "outperform" to "strong buy," and an average consensus price target of $52.21.
• Hinge Health's shares recently opened at $48.79 and have seen a 12-month range between a low of $33.42 and a high of $52.16.

Hinge Health (NYSE:HNGE - Get Free Report) had its price objective increased by equities researchers at Bank of America from $42.00 to $64.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Bank of America's target price points to a potential upside of 31.17% from the company's current price.

A number of other research firms also recently weighed in on HNGE. Royal Bank Of Canada began coverage on Hinge Health in a research report on Monday, June 16th. They issued an "outperform" rating and a $45.00 target price for the company. Citizens Jmp began coverage on Hinge Health in a research report on Monday, July 14th. They issued a "strong-buy" rating and a $58.00 target price for the company. Citigroup began coverage on Hinge Health in a research report on Monday, July 14th. They issued an "outperform" rating for the company. Needham & Company LLC began coverage on Hinge Health in a research report on Monday, June 16th. They issued a "buy" rating and a $47.00 target price for the company. Finally, Morgan Stanley upped their target price on Hinge Health from $46.00 to $57.00 and gave the stock an "overweight" rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $52.21.

Hinge Health Price Performance

Shares of NYSE HNGE opened at $48.79 on Wednesday. The business's 50 day simple moving average is $43.52. Hinge Health has a 12-month low of $33.42 and a 12-month high of $52.16.

Hedge Funds Weigh In On Hinge Health

A number of hedge funds have recently modified their holdings of HNGE. Emerald Advisers LLC acquired a new position in Hinge Health during the second quarter worth $108,000. FNY Investment Advisers LLC bought a new position in Hinge Health during the second quarter worth about $310,000. Strategic Blueprint LLC acquired a new stake in shares of Hinge Health in the second quarter valued at approximately $346,000. Finally, CHURCHILL MANAGEMENT Corp acquired a new stake in shares of Hinge Health in the second quarter valued at approximately $828,000.

Hinge Health Company Profile

Our vision is to build a new health system that transforms outcomes, experience and costs by using technology to scale and automate the delivery of care. Hinge Health leverages software, including AI, to largely automate care for joint and muscle health, delivering an outstanding member experience, improved member outcomes, and cost reductions for our clients.

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