Hinge Health price target raised to $59 from $47 at Needham

Needham raised the firm’s price target on Hinge Health (HNGE) to $59 from $47 and keeps a Buy rating on the shares. The firm cites the Hinge’s strong first earnings print as a public company, as strong ROI, flexible pricing model and key payer/PBM relationships have created a value proposition that is resonating amongst benefits buyers in a rising healthcare cost environment, the analyst tells investors in a research note.