Hinge Health initiated with an Overweight at Barclays

Barclays analyst Saket Kalia initiated coverage of Hinge Health (HNGE) with an Overweight rating and $43 price target Musculoskeletal issues are expensive, and Hinge can “bend the cost curve” with digital physical therapy, the analyst tells investors in a research note. The firm says the company has has an $18B total addressable market with “key moats” in partners and technology. Barclays believes Hinge’s 15%-20% billings growth drives “highly visible” 20% revenue growth.