Canaccord Genuity Group Boosts Hinge Health (NYSE:HNGE) Price Target to $61.00

Key Points

• Canaccord Genuity Group raised its price target for Hinge Health from $52.00 to $61.00, suggesting a potential upside of 2.81% from the current price.
• The company has garnered a majority of buy ratings from analysts, with an average consensus price target of $55.71.
• Hinge Health saw its stock price increase by 23.0%, reaching $59.33 during midday trading on Wednesday.

Hinge Health (NYSE:HNGE - Free Report) had its target price increased by Canaccord Genuity Group from $52.00 to $61.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. Barclays raised their price objective on shares of Hinge Health from $51.00 to $62.00 and gave the stock an "overweight" rating in a report on Wednesday. Morgan Stanley raised their target price on shares of Hinge Health from $46.00 to $57.00 and gave the company an "overweight" rating in a research report on Wednesday. Evercore ISI raised their target price on shares of Hinge Health from $50.00 to $60.00 and gave the company an "outperform" rating in a research report on Wednesday. Bank of America raised their target price on shares of Hinge Health from $42.00 to $64.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Raymond James Financial started coverage on shares of Hinge Health in a research report on Monday, June 16th. They issued an "outperform" rating and a $45.00 target price for the company. 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 company's stock. According to MarketBeat.com, Hinge Health currently has an average rating of "Buy" and a consensus target price of $55.71.

Hinge Health Stock Down 5.7%

Shares of NYSE:HNGE traded down $3.47 during midday trading on Wednesday, reaching $56.88. 1,295,753 shares of the company were exchanged, compared to its average volume of 749,009. Hinge Health has a fifty-two week low of $33.42 and a fifty-two week high of $62.00. The stock's fifty day moving average price is $44.44.

Institutional Trading of Hinge Health

Several hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. acquired a new position in shares of Hinge Health in the 2nd quarter valued at approximately $71,000. SBI Securities Co. Ltd. acquired a new position in Hinge Health in the 2nd quarter valued at approximately $48,000. Montag A & Associates Inc. acquired a new position in Hinge Health in the 2nd quarter valued at approximately $41,000. Lisanti Capital Growth LLC bought a new stake in shares of Hinge Health in the 2nd quarter valued at $3,089,000. Finally, Mark Sheptoff Financial Planning LLC bought a new stake in shares of Hinge Health in the 2nd quarter valued at $114,000.

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.