Hinge Health (NYSE:HNGE) Price Target Raised to $64.00

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 - Free Report) had its price objective boosted by Bank of America from $42.00 to $64.00 in a research note issued to investors on Wednesday,Benzinga reports. Bank of America currently has a buy rating on the stock.

Several other brokerages have also issued reports on HNGE. Royal Bank Of Canada initiated coverage on shares of Hinge Health in a report on Monday, June 16th. They issued an "outperform" rating and a $45.00 price target for the company. Wall Street Zen upgraded Hinge Health to a "hold" rating in a report on Monday, June 2nd. KeyCorp raised their target price on shares of Hinge Health from $45.00 to $60.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Needham & Company LLC began coverage on shares of Hinge Health in a research report on Monday, June 16th. They set a "buy" rating and a $47.00 price objective for the company. Finally, Barclays reaffirmed an "overweight" rating and issued a $51.00 price objective (up from $43.00) on shares of Hinge Health in a research report on Monday, July 14th. One equities research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $55.71.

Hinge Health Stock Performance

HNGE traded down $3.47 during trading on Wednesday, hitting $56.88. The company's stock had a trading volume of 1,295,753 shares, compared to its average volume of 761,884. Hinge Health has a 12 month low of $33.42 and a 12 month high of $62.00. The company's 50 day moving average price is $44.44.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HNGE. PNC Financial Services Group Inc. bought a new position in Hinge Health during the second quarter worth $71,000. SBI Securities Co. Ltd. acquired a new stake in shares of Hinge Health during the 2nd quarter worth about $48,000. Montag A & Associates Inc. bought a new stake in shares of Hinge Health during the 2nd quarter worth about $41,000. Lisanti Capital Growth LLC acquired a new position in Hinge Health in the 2nd quarter valued at about $3,089,000. Finally, Mark Sheptoff Financial Planning LLC acquired a new position in Hinge Health in the 2nd quarter valued at about $114,000.

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.