Hinge Health Inc. (NYSE:HNGE) Receives Average Recommendation of "Buy" from Brokerages

Key Points

• Hinge Health Inc. (NYSE:HNGE) has received an average recommendation of "Buy" from sixteen brokerages, with fifteen analysts rating it as a buy and one as a strong buy.
• The average 1-year target price for Hinge Health stock is approximately $55.71, reflecting optimism from analysts about its future performance.
• Several hedge funds have made significant new investments in Hinge Health, indicating growing institutional interest in the company.

Hinge Health Inc. (NYSE:HNGE - Get Free Report) has been assigned an average rating of "Buy" from the sixteen brokerages that are currently covering the firm, Marketbeat reports. Fifteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $55.7143.

HNGE has been the subject of a number of analyst reports. Royal Bank Of Canada initiated coverage on Hinge Health in a research 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 research report on Monday, June 2nd. Bank of America upped their price target on Hinge Health from $42.00 to $64.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Citigroup initiated coverage on Hinge Health in a research report on Monday, July 14th. They issued an "outperform" rating for the company. Finally, Canaccord Genuity Group upped their price target on Hinge Health from $52.00 to $61.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th.

Hinge Health Price Performance

Shares of HNGE opened at $56.30 on Friday. The stock has a 50-day moving average of $50.06. Hinge Health has a 52 week low of $33.42 and a 52 week high of $62.18.

Hedge Funds Weigh In On Hinge Health

A number of hedge funds have recently made changes to their positions in the business. State of Tennessee Department of Treasury bought a new position in shares of Hinge Health in the second quarter worth about $432,000. Sandler Capital Management bought a new position in shares of Hinge Health in the second quarter worth about $2,691,000. Oxford Asset Management LLP bought a new position in shares of Hinge Health in the second quarter worth about $363,000. Man Group plc bought a new position in shares of Hinge Health in the second quarter worth about $267,000. Finally, LMR Partners LLP bought a new position in shares of Hinge Health in the second quarter worth about $2,846,000.

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.

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.