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

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 - Get Free Report) had its price objective increased by research analysts at Evercore ISI from $50.00 to $60.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Evercore ISI's price target would suggest a potential upside of 12.25% from the stock's previous close.

HNGE has been the topic of a number of other research reports. Barclays reiterated an "overweight" rating and set a $51.00 target price (up previously from $43.00) on shares of Hinge Health in a research note on Monday, July 14th. KeyCorp increased their target price on Hinge Health from $45.00 to $60.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Wall Street Zen upgraded Hinge Health to a "hold" rating in a research note on Monday, June 2nd. Morgan Stanley increased their target price on Hinge Health from $46.00 to $57.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Citizens Jmp began coverage on Hinge Health in a research note on Monday, July 14th. They set a "strong-buy" rating and a $58.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $53.79.

Hinge Health Stock Up 10.8%

HNGE opened at $53.45 on Wednesday. Hinge Health has a 12-month low of $33.42 and a 12-month high of $57.10. The company has a 50 day simple moving average of $43.52.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Emerald Advisers LLC bought a new stake in shares of Hinge Health during the second quarter worth about $108,000. Strategic Blueprint LLC bought a new stake in shares of Hinge Health during the second quarter worth about $346,000. FNY Investment Advisers LLC bought a new stake in shares of Hinge Health during the second quarter worth about $310,000. Finally, CHURCHILL MANAGEMENT Corp bought a new stake in shares of Hinge Health during the second quarter worth about $828,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.