Barclays Issues Positive Forecast for Hinge Health (NYSE:HNGE) Stock Price

Key Points

• Barclays has raised Hinge Health's price target from $51.00 to $62.00, maintaining an "overweight" rating and indicating a potential upside of 13.08% from the current price.
• Multiple research firms, including Evercore ISI and Stifel Nicolaus, have also increased their price targets for Hinge Health, with a general consensus rating of "Buy."
• Hinge Health's stock has shown strong performance, trading up 13.7% recently, with a current price of $54.83.

Hinge Health (NYSE:HNGE - Free Report) had its price target lifted by Barclays from $51.00 to $62.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also recently issued reports on HNGE. Wall Street Zen upgraded shares of Hinge Health to a "hold" rating in a research report on Monday, June 2nd. Canaccord Genuity Group started coverage on shares of Hinge Health in a report on Monday, June 16th. They set a "buy" rating and a $52.00 target price on the stock. Piper Sandler started coverage on shares of Hinge Health in a research note on Monday, June 16th. They issued an "overweight" rating and a $41.00 price objective on the stock. Citigroup started coverage on shares of Hinge Health in a research note on Monday, July 14th. They issued an "outperform" rating on the stock. Finally, Evercore ISI upped their price objective on shares of Hinge Health from $50.00 to $60.00 and gave the company an "outperform" rating in a research note on Wednesday. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $55.71.

Hinge Health Price Performance

HNGE stock traded down $3.47 during trading on Wednesday, reaching $56.88. 1,295,753 shares of the company were exchanged, compared to its average volume of 749,009. The business's 50-day moving average is $44.44. Hinge Health has a twelve month low of $33.42 and a twelve month high of $62.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. CHURCHILL MANAGEMENT Corp acquired a new position in Hinge Health during the second quarter worth $828,000. FNY Investment Advisers LLC acquired a new position in Hinge Health during the second quarter worth $310,000. Strategic Blueprint LLC acquired a new position in Hinge Health during the second quarter worth $346,000. Emerald Advisers LLC purchased a new stake in shares of Hinge Health in the second quarter valued at about $108,000. Finally, Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Hinge Health in the second quarter valued at about $114,000.

About Hinge Health

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.