Hinge Health (NYSE:HNGE) Price Target Raised to $55.00

Hinge Health (NYSE:HNGE) had its target price boosted by Royal Bank Of Canada from $50.00 to $55.00 in a report issued on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

HNGE has been the topic of several other research reports. Citizens Jmp reaffirmed a “market outperform” rating and set a $65.00 price target on shares of Hinge Health in a research note on Wednesday, February 11th. Weiss Ratings restated a “sell (d)” rating on shares of Hinge Health in a research note on Thursday, January 22nd. Wells Fargo & Company started coverage on Hinge Health in a research report on Thursday, January 8th. They set an “overweight” rating and a $68.00 target price on the stock. Freedom Capital upgraded Hinge Health to a “strong-buy” rating in a research note on Thursday, January 22nd. Finally, Wall Street Zen upgraded Hinge Health from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Hinge Health presently has a consensus rating of “Moderate Buy” and an average target price of $57.07.

Hinge Health Stock Up 1.2%

Shares of NYSE:HNGE opened at $45.00 on Wednesday. The company has a market capitalization of $3.54 billion and a price-to-earnings ratio of -3.51. The company has a 50 day moving average of $41.55 and a two-hundred day moving average of $47.23. Hinge Health has a 52-week low of $30.08 and a 52-week high of $62.18.

Hinge Health (NYSE:HNGE) last posted its earnings results on Tuesday, February 10th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.45. The firm had revenue of $170.73 million for the quarter, compared to analyst estimates of $157.31 million. Hinge Health’s quarterly revenue was up 45.5% compared to the same quarter last year.

Insider Activity at Hinge Health

In other news, Chairman Gabriel M.I. Mecklenburg sold 166,666 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $45.32, for a total value of $7,553,303.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel Antonio Perez sold 166,670 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $48.53, for a total transaction of $8,088,495.10. The disclosure for this sale is available in the SEC filing. Insiders sold 692,157 shares of company stock valued at $31,315,523 in the last 90 days.

Institutional Trading of Hinge Health

Several institutional investors and hedge funds have recently bought and sold shares of HNGE. JPMorgan Chase & Co. acquired a new position in Hinge Health during the 2nd quarter valued at approximately $43,840,000. Seven Grand Managers LLC acquired a new stake in Hinge Health in the second quarter worth $12,938,000. Foresite Capital Management VI LLC bought a new stake in Hinge Health in the second quarter valued at $6,986,000. Ensign Peak Advisors Inc bought a new stake in Hinge Health in the second quarter valued at $16,172,000. Finally, American Century Companies Inc. acquired a new position in shares of Hinge Health during the second quarter valued at $27,268,000.

Hinge Health Company Profile

Hinge Health (NYSE: HNGE) is a digital musculoskeletal (MSK) clinic that provides end-to-end solutions for the prevention and management of musculoskeletal conditions. The company’s platform combines wearable motion sensors, personalized exercise therapy guided by licensed physical therapists, and behavioral health coaching to deliver tailored treatment plans. By integrating technology with evidence-based clinical protocols, Hinge Health aims to reduce pain, improve mobility and decrease reliance on more invasive interventions such as surgery or opioid prescriptions.

Founded in 2015 and headquartered in San Francisco, Hinge Health partners with employers, health plans and other payers to offer its self-directed, app-based programs.