Hinge Health (NYSE:HNGE) Hits New 52-Week High After Analyst Upgrade

Key Points

• Hinge Health shares reached a new 52-week high of $57.10 after Evercore ISI raised its price target for the stock from $50 to $60, maintaining an outperform rating.
• Multiple brokerages have raised their target prices on Hinge Health, with Needham & Company increasing theirs from $47 to $59 and Stifel Nicolaus from $48 to $55, both issuing "buy" ratings.
• Overall, Hinge Health's stock is up 13.3%, with a consensus average rating of "Buy" and a target price of $53.79 among analysts.

Hinge Health Inc. (NYSE:HNGE - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday after Evercore ISI raised their price target on the stock from $50.00 to $60.00. Evercore ISI currently has an outperform rating on the stock. Hinge Health traded as high as $57.10 and last traded at $54.24, with a volume of 630681 shares trading hands. The stock had previously closed at $48.22.

A number of other brokerages have also recently commented on HNGE. Needham & Company LLC lifted their target price on Hinge Health from $47.00 to $59.00 and gave the stock a "buy" rating in a report on Wednesday. Stifel Nicolaus lifted their target price on Hinge Health from $48.00 to $55.00 and gave the stock a "buy" rating in a report on Friday, August 1st. JMP Securities initiated coverage on Hinge Health in a report on Monday, July 14th. They issued a "market outperform" rating and a $58.00 target price for the company. Truist Financial initiated coverage on Hinge Health in a report on Monday, June 16th. They issued a "buy" rating and a $48.00 target price for the company. Finally, Morgan Stanley lifted their target price on Hinge Health from $46.00 to $57.00 and gave the stock an "overweight" rating in a report on Wednesday. One research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $53.79.

Hedge Funds Weigh In On Hinge Health

A number of large investors have recently bought and sold shares of the business. CHURCHILL MANAGEMENT Corp purchased a new stake in shares of Hinge Health in the 2nd quarter worth $828,000. Strategic Blueprint LLC purchased a new stake in shares of Hinge Health in the 2nd quarter worth $346,000. FNY Investment Advisers LLC purchased a new stake in shares of Hinge Health in the 2nd quarter worth $310,000. Finally, Emerald Advisers LLC purchased a new stake in shares of Hinge Health in the 2nd quarter worth $108,000.

Hinge Health Stock Up 13.3%

The company has a fifty day simple moving average of $43.52.

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.