Morgan Stanley Boosts Hinge Health (NYSE:HNGE) Price Target to $57.00

Key Points

• Morgan Stanley raised its target price for Hinge Health (NYSE:HNGE) stock from $46.00 to $57.00, reflecting a potential upside of 16.83% from the recent close.
• A total of fifteen analysts currently rate Hinge Health as a buy, with an average target price of $50.64.
• Hinge Health has recently seen significant institutional investment, with several large firms acquiring new positions in the company during the second quarter.

Hinge Health (NYSE:HNGE - Free Report) had its price target upped by Morgan Stanley from $46.00 to $57.00 in a research note released on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

HNGE has been the topic of a number of other research reports. KeyCorp boosted their target price on shares of Hinge Health from $45.00 to $60.00 and gave the company an "overweight" rating in a report on Monday, July 14th. JMP Securities began coverage on shares of Hinge Health in a report on Monday, July 14th. They issued a "market outperform" rating and a $58.00 price target on the stock. Evercore ISI initiated coverage on shares of Hinge Health in a research note on Monday, June 16th. They set an "outperform" rating and a $50.00 price objective for the company. Truist Financial initiated coverage on shares of Hinge Health in a research note on Monday, June 16th. They issued a "buy" rating and a $48.00 target price on the stock. Finally, William Blair assumed coverage on shares of Hinge Health in a research report on Monday, June 16th. They set an "outperform" rating for the company. One research 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 data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $55.71.

Hinge Health Stock Down 5.7%

NYSE:HNGE traded down $3.47 on Wednesday, reaching $56.88. 1,295,753 shares of the company's stock were exchanged, compared to its average volume of 761,884. The company has a fifty day moving average of $44.44. Hinge Health has a 52 week low of $33.42 and a 52 week high of $62.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of HNGE. Montag A & Associates Inc. bought a new stake in Hinge Health in the second quarter valued at approximately $41,000. SBI Securities Co. Ltd. bought a new stake in Hinge Health during the 2nd quarter valued at approximately $48,000. PNC Financial Services Group Inc. purchased a new position in shares of Hinge Health in the 2nd quarter valued at approximately $71,000. Emerald Advisers LLC purchased a new stake in Hinge Health in the second quarter worth $108,000. Finally, Mark Sheptoff Financial Planning LLC bought a new position in Hinge Health in the second quarter worth $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.