Allurion Technologies initiated with a Buy at Jefferies

Jefferies initiated coverage of Allurion Technologies with a Buy rating and $5 price target. The company offers the only procedure-less weight loss device combined with an artificial intelligence-powered digital therapeutic and remote monitoring solution and behavior change program to deliver sustainable results, the analyst tells investors in a research note. The firm says Allurion’s sales have ramped outside the U.S. and the company is poised to enter key markets including the U.S., backed by data from the AUDACITY pivotal study.