Coverage Initiation And Bullish Price Target Sends Micro Cap Flying

Yolowire 2-Oct-2024 10:59 AM

A %Healthcare company based out of Massachusetts is getting a lot of attention this morning after it was announced that TD Cowen initiated coverage on the stock with a Buy rating and announced a $2 price target.

Seeing that the stock closed at just $0.585 yesterday, it’s no wonder traders rushed to buy up shares of %AllurionTechnologies Inc. (NYSE:ALUR) earlier this morning. Shares are currently trading up at$0.67/share (+14.53%) at the time of writing.

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) and 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. The company is headquartered in Natick, Massachusetts.