Josh Jennings, an analyst from TD Cowen, maintained the Buy rating on Allurion Technologies. The associated price target remains the same with $6.00.
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Josh Jennings has given his Buy rating due to a combination of factors that highlight Allurion Technologies’ potential for future growth. The company’s Q3 sales exceeded expectations, reaching $2.7 million compared to the anticipated $2.1 million. This performance is attributed to Allurion’s strategic shift towards distributors with physician networks that prescribe GLP-1s, a move that aligns with their August strategy and shows promise for future revenue growth.
Another significant factor influencing the Buy rating is the anticipated US approval in 2026, which is expected to be a major catalyst for value increase. Allurion has made substantial progress towards this goal, having passed two FDA inspections without any observations and successfully completing its Day 100 meeting with the agency. Additionally, the company has demonstrated effective cost management, with adjusted operating expenses significantly reduced year-over-year, and a narrower adjusted operating loss compared to the previous year. These elements collectively support a positive outlook for Allurion Technologies.
According to TipRanks, Jennings is a 2-star analyst with an average return of 0.6% and a 46.39% success rate. Jennings covers the Healthcare sector, focusing on stocks such as Medtronic, TransMedics Group, and Dexcom.