TD Cowen Begins Coverage on Allurion Technologies (NYSE:ALUR)

Investment analysts at TD Cowen began coverage on shares of Allurion Technologies (NYSE:ALUR) in a research note issued on Wednesday, Briefing.com reports. The firm set a “buy” rating and a $2.00 price target on the stock. TD Cowen’s target price would indicate a potential upside of 241.88% from the stock’s current price.

Several other brokerages also recently issued reports on ALUR. Roth Mkm started coverage on Allurion Technologies in a report on Friday, September 6th. They issued a “buy” rating and a $2.00 price target on the stock. Chardan Capital cut their target price on Allurion Technologies from $5.00 to $2.50 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Finally, Roth Capital upgraded shares of Allurion Technologies to a “strong-buy” rating in a research report on Friday, September 6th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Allurion Technologies presently has an average rating of “Buy” and a consensus price target of $2.88.

Allurion Technologies Stock Performance

Shares of Allurion Technologies stock opened at $0.59 on Wednesday. The firm has a market cap of $28.05 million, a PE ratio of -0.15 and a beta of -0.33. Allurion Technologies has a 1 year low of $0.55 and a 1 year high of $5.15. The firm’s 50-day simple moving average is $0.70 and its 200-day simple moving average is $1.36.

Allurion Technologies (NYSE:ALUR) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.01 EPS for the quarter. The business had revenue of $11.77 million during the quarter. On average, equities analysts predict that Allurion Technologies will post -0.3 earnings per share for the current year.

Institutional Investors Weigh In On Allurion Technologies

An institutional investor recently raised its position in Allurion Technologies stock. Accredited Investors Inc. boosted its stake in shares of Allurion Technologies Inc. (NYSE:ALUR) by 33.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 50,000 shares of the company’s stock after purchasing an additional 12,500 shares during the period. Accredited Investors Inc. owned about 0.10% of Allurion Technologies worth $50,000 at the end of the most recent reporting period. Institutional investors own 21.39% of the company’s stock.

About Allurion Technologies

Allurion Technologies Inc focuses on ending obesity with a weight loss platform to treat people who are overweight. Its platform, the Allurion Program, features swallowable and procedure-less intragastric balloon for weight loss (the Allurion Balloon), as well as offers access to AI-powered remote patient monitoring tools, a proprietary behavior change program, secure messaging, and video telehealth that are delivered by the Allurion Virtual Care Suite.