JMP Securities Raises Hinge Health (NYSE:HNGE) Price Target to $65.00

Key Points

• JMP Securities has raised Hinge Health's target price from $58.00 to $65.00, indicating a potential upside of 9.37% based on the stock's current price. This stock currently holds a "market outperform" rating.
• Hinge Health's stock surged 23.2% during trading on Wednesday, reaching $59.43, with trading volume significantly higher than its average.
• Multiple analysts, including Bank of America and Needham & Company, have recently increased their price targets for Hinge Health, with several maintaining a "buy" rating amid strong institutional interest in the stock.

Hinge Health (NYSE:HNGE - Get Free Report) had its target price boosted by analysts at JMP Securities from $58.00 to $65.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a "market outperform" rating on the stock. JMP Securities' target price suggests a potential upside of 9.37% from the stock's current price.

HNGE has been the topic of a number of other reports. Bank of America upped their target price on Hinge Health from $42.00 to $64.00 and gave the stock a "buy" rating in a research report on Wednesday. Royal Bank Of Canada assumed coverage on Hinge Health in a research report on Monday, June 16th. They set an "outperform" rating and a $45.00 price target for the company. Needham & Company LLC lifted their price target on Hinge Health from $47.00 to $59.00 and gave the stock a "buy" rating in a research report on Wednesday. Wall Street Zen upgraded Hinge Health to a "hold" rating in a research note on Monday, June 2nd. Finally, William Blair started coverage on Hinge Health in a report on Monday, June 16th. They set an "outperform" rating on the stock. One 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 stock presently has an average rating of "Buy" and a consensus target price of $55.07.

Hinge Health Stock Up 23.2%

Shares of Hinge Health stock traded up $11.21 during trading hours on Wednesday, hitting $59.43. The company's stock had a trading volume of 1,423,669 shares, compared to its average volume of 897,266. The firm has a fifty day moving average price of $43.52. Hinge Health has a 1-year low of $33.42 and a 1-year high of $59.83.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Emerald Advisers LLC acquired a new stake in Hinge Health during the second quarter worth about $108,000. Strategic Blueprint LLC bought a new position in shares of Hinge Health in the second quarter valued at approximately $346,000. FNY Investment Advisers LLC bought a new position in shares of Hinge Health in the second quarter valued at approximately $310,000. Finally, CHURCHILL MANAGEMENT Corp bought a new position in shares of Hinge Health in the second quarter valued at approximately $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.

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