Evercore ISI Raises Hinge Health (NYSE:HNGE) Price Target to $60.00

Key Points

• Evercore ISI raised its price target for Hinge Health (NYSE:HNGE) from $50 to $60, indicating a potential upside of 12.25% from the stock's previous close and maintaining an "outperform" rating.
• Multiple research firms have shown bullish sentiment towards Hinge Health, with firms like Barclays and KeyCorp also increasing their target prices, resulting in a consensus rating of "Buy" with an average target price of $53.79.
• Hinge Health's stock was reported to be up 10.8%, trading at $53.45, and has a significant trading range with a 12-month low of $33.42 and a high of $57.10.

Hinge Health (NYSE:HNGE - Free Report) had its price target raised by Evercore ISI from $50.00 to $60.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. KeyCorp increased their price target on shares of Hinge Health from $45.00 to $60.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Citizens Jmp began coverage on Hinge Health in a research note on Monday, July 14th. They issued a "strong-buy" rating and a $58.00 target price on the stock. Wall Street Zen upgraded Hinge Health to a "hold" rating in a report on Monday, June 2nd. Piper Sandler began coverage on Hinge Health in a research note on Monday, June 16th. They set an "overweight" rating and a $41.00 target price on the stock. Finally, Morgan Stanley lifted their price target on shares of Hinge Health from $46.00 to $57.00 and gave the company an "overweight" rating in a report on Wednesday. One research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $55.71.

Hinge Health Stock Performance

HNGE stock traded down $3.47 during midday trading on Wednesday, hitting $56.88. The company had a trading volume of 1,295,753 shares, compared to its average volume of 761,884. Hinge Health has a 52 week low of $33.42 and a 52 week high of $62.00. The firm has a 50 day moving average price of $44.44.

Institutional Investors Weigh In On Hinge Health

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