Analyst Josh Jennings from TD Cowen reiterated a Buy rating on Allurion Technologies (ALUR – Research Report) and keeping the price target at $6.00.
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Josh Jennings has given his Buy rating due to a combination of factors that highlight Allurion Technologies’ promising financial and strategic position. The company’s first-quarter revenue of $5.6 million surpassed the consensus estimate of $5.5 million, demonstrating its ability to exceed market expectations. Additionally, Allurion Technologies has maintained its full-year revenue guidance of $30 million, reinforcing confidence in its financial outlook.
Moreover, the company has shown a commitment to operational efficiency by planning to reduce operating expenses by 50%, which is a significant step towards improving profitability. The favorable pre-PMA meeting on the Audacity results and the anticipated PMA filing by the end of June further indicate potential growth and innovation in its product pipeline. These factors, combined with a strong gross margin of 75%, contribute to Jennings’s positive outlook on the stock.