In a report released today, Josh Jennings from TD Cowen reiterated a Buy rating on Allurion Technologies (ALUR – Research Report), with a price target of $6.00.
Josh Jennings has given his Buy rating due to a combination of factors that suggest a positive outlook for Allurion Technologies. The company has aligned its sales and revenue projections with expectations, indicating stability and reliability in its financial performance. Jennings anticipates that the completion of the PMA by the first half of 2025 will pave the way for potential U.S. approval and a subsequent launch by mid-2026, which could significantly boost the company’s market presence.
Furthermore, Jennings notes the potential for increased interest in combination treatments involving low-dose GLP-1s, which could enhance the company’s product offerings. Despite a recent contraction in small-cap valuations, the adjusted price target reflects confidence in Allurion’s strategic initiatives, including the reorganization of its sales and marketing teams and the expansion of its sales force. These efforts are expected to contribute to improved margins and revenue growth, reinforcing the Buy rating.
In another report released on March 20, Roth MKM also reiterated a Buy rating on the stock with a $16.00 price target.