Allurion Technologies (ALUR – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Matthew Taylor from Jefferies maintained a Buy rating on the stock and has a $18.00 price target.
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Matthew Taylor has given his Buy rating due to a combination of factors surrounding Allurion Technologies’ strategic positioning and growth potential. The company is on track with its US launch, having completed the pre-PMA meeting and planning to submit the final PMA module by the end of June, which could lead to a 2026 launch. The FDA’s openness to alternative data analysis methods may enhance the company’s chances of approval, as these methods could provide a more accurate representation of the control group’s performance.
Additionally, Allurion’s financial health supports its growth trajectory, with a cash runway sufficient to achieve FDA approval and profitability. The company’s restructuring plan, including a significant workforce reduction, aligns its cost base with strategic priorities. Furthermore, positive outcomes from studies and real-world data demonstrate the effectiveness of Allurion’s Virtual Care Suite and balloon, reinforcing the company’s potential for success in the weight loss market.
Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ALUR in relation to earlier this year.