Hinge Health initiated with a Buy at Needham

Needham initiated coverage of Hinge Health (HNGE) with a Buy rating and $47 price target Hinge is the market leader in the virtual musculoskeletal space boasting both a technological and contracting advantage, the analyst tells investors in a research note. The firm expects this to not only enable market share gains against other digital peers, but also legacy in-person physical therapy over time. The musculoskeletal category represents a “massive opportunity” in the U.S. as 40% of Americans have an MSK issue, but only 9% currently receive treatment, creating a $420B economic burden, the analyst tells investors in a research note.