Stifel Nicolaus Forecasts Strong Price Appreciation for Hinge Health (NYSE:HNGE) Stock

Key Points

• Stifel Nicolaus raised its target price for Hinge Health's stock from $63.00 to $66.00, signaling a potential upside of 14.68% from its previous close.
• Other analysts have also issued favorable ratings, with a consensus of fifteen 'Buy' ratings and two 'Hold' ratings, resulting in a consensus target price of $56.47.
• The stock opened at $57.55 on Thursday, reflecting its twelve-month range of a low of $33.42 and a high of $62.18.

Hinge Health (NYSE:HNGE - Free Report) had its target price hoisted by Stifel Nicolaus from $63.00 to $66.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

HNGE has been the topic of a number of other research reports. Canaccord Genuity Group upped their target price on Hinge Health from $52.00 to $61.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Morgan Stanley boosted their price target on Hinge Health from $46.00 to $57.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. Citigroup assumed coverage on Hinge Health in a research report on Monday, July 14th. They issued an "outperform" rating on the stock. Royal Bank Of Canada assumed coverage on Hinge Health in a research report on Monday, June 16th. They issued an "outperform" rating and a $45.00 price target on the stock. Finally, Bank of America boosted 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. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Hinge Health presently has an average rating of "Moderate Buy" and an average target price of $56.47.

Hinge Health Stock Performance

Shares of HNGE stock traded up $0.35 during midday trading on Thursday, reaching $58.42. 587,820 shares of the stock were exchanged, compared to its average volume of 903,722. Hinge Health has a 1 year low of $33.42 and a 1 year high of $62.18. The company has a 50 day simple moving average of $52.48.

Hedge Funds Weigh In On Hinge Health

Hedge funds and other institutional investors have recently modified their holdings of the company. Atika Capital Management LLC bought a new position in shares of Hinge Health during the 2nd quarter valued at $2,261,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Hinge Health in the 2nd quarter worth $966,000. Foresite Capital Management VI LLC bought a new position in Hinge Health in the 2nd quarter worth $6,986,000. Ensign Peak Advisors Inc bought a new position in Hinge Health in the 2nd quarter worth $16,172,000. Finally, Greenland Capital Management LP bought a new position in Hinge Health in the 2nd quarter worth $273,000.

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.