TD Cowen analyst Josh Jennings maintained a Buy rating on Allurion Technologies (ALUR – Research Report) today and set a price target of $16.00.
Josh Jennings has given his Buy rating due to a combination of factors that highlight the promising potential of Allurion Technologies’ innovative approach. The company has reported encouraging initial results from a study combining the Allurion Program with low-dose GLP-1 therapy, which has shown significant improvements in weight loss and muscle mass retention. This combination strategy addresses common issues associated with GLP-1 monotherapy, such as muscle wasting and poor adherence due to side effects.
By utilizing lower doses of GLP-1s alongside the Allurion Balloon, the approach minimizes adverse effects typically seen with higher doses, potentially enhancing patient compliance. The data from the 52-patient case series, overseen by Dr. Luigi Flagiello, demonstrated an average total body weight loss of 20.3% and an increase in lean body mass by 15% over eight months. The promising results suggest that Allurion’s strategy could lead to better patient outcomes and adherence, supporting the Buy rating from Josh Jennings.
In another report released yesterday, Roth MKM also reiterated a Buy rating on the stock with a $16.00 price target.