Allurion Technologies (NYSE:ALUR) Earns Buy Rating from Analysts at TD Cowen

TD Cowen began coverage on shares of Allurion Technologies (NYSE:ALUR) in a research report sent to investors on Wednesday, Marketbeat.com reports. The firm issued a buy rating and a $2.00 price objective on the stock.

Several other equities research analysts have also issued reports on the company. Roth Mkm initiated coverage on Allurion Technologies in a research note on Friday, September 6th. They set a buy rating and a $2.00 price target for the company. Chardan Capital dropped their price target on Allurion Technologies from $5.00 to $2.50 and set a buy rating for the company in a research note on Thursday, August 22nd. Finally, Roth Capital raised Allurion Technologies to a strong-buy rating in a research note on Friday, September 6th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and an average price target of $2.88.

Allurion Technologies Stock Up 1.5 %

Allurion Technologies stock opened at $0.70 on Wednesday. Allurion Technologies has a 52 week low of $0.55 and a 52 week high of $5.15. The business has a 50-day simple moving average of $0.68 and a 200 day simple moving average of $1.32. The stock has a market cap of $33.73 million, a price-to-earnings ratio of -0.19 and a beta of -0.33.

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

Institutional Investors Weigh In On Allurion Technologies

A hedge fund recently bought a new stake in Allurion Technologies stock. CVI Holdings LLC bought a new stake in Allurion Technologies Inc. (NYSE:ALUR) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 521,440 shares of the company’s stock, valued at approximately $520,000. Allurion Technologies comprises approximately 0.5% of CVI Holdings LLC’s portfolio, making the stock its 28th largest position. CVI Holdings LLC owned about 1.09% of Allurion Technologies as of its most recent SEC filing. 21.39% of the stock is currently owned by institutional investors.

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.