Allurion Technologies Forecasts 268.87% Upside Potential

A recent report highlights TD Cowen's buy recommendation for Allurion Technologies, suggesting a remarkable upside. With a projected revenue increase of 33% and significant institutional interest, stock performance may be positively influenced in the near future.

Date: 03-10-2024

AI Rating: 6

The report indicates a strong positive sentiment regarding Allurion Technologies (NYSE:ALUR), particularly after **TD Cowen** initiated coverage with a Buy recommendation on October 2, 2024. The analyst price forecast suggests a substantial 268.87% upside from its latest closing price of $0.69/share to an average price target of $2.55/share. This significant potential increase may attract both investor interest and speculative activities in the stock.

Additionally, Allurion Technologies is projected to achieve an annual revenue of **$63 million**, reflecting a promising **33% growth**. Such revenue growth is likely to contribute positively to investor outlook, as increasing revenues can lead to greater market confidence and potential increases in stock prices.

However, it is important to note that the projected non-GAAP **EPS** stands at **-0.91**, indicating that the company may still be operating at a loss. This number could raise some caution among risk-averse investors, as ongoing losses can affect long-term profitability

Institutional sentiment appears supportive, with an increase of **24.32%** in owner institutions over the last quarter, indicating growing confidence in the firm. The total shares owned by institutions increased by **33.22%** to **10,477K shares**. Furthermore, the **put/call ratio** at **0.06** indicates a bullish outlook, reflecting investor optimism regarding future price movements.

In conclusion, while there are concerns related to ongoing losses reflected in the projected EPS, the substantial upside in analyst price targets, expected revenue growth, and positive institutional buying suggest a bullish scenario for Allurion Technologies, which should warrant close attention from investors.

Stocks: ALUR