Allurion Technologies initiated with a Buy at Chardan

Chardan analyst Keay Nakae initiated coverage of Allurion Technologies with a Buy rating and $5 price target. The analyst cites the potential of the company’s “innovative, procedure-less, intragastric weight loss balloon” for the Buy rating. In addressing the large prevalent weight loss market opportunity, Allurion’s strategy is to overcome the limitations of other weight loss treatments, the analyst tells investors in a research note. The firm says the safety and efficacy of the novel Allurion Balloon has been demonstrated in numerous clinical studies.