What is Chardan Capital’s Forecast for ALUR FY2024 Earnings?

Allurion Technologies Inc. (NYSE:ALUR) – Equities researchers at Chardan Capital increased their FY2024 earnings per share estimates for shares of Allurion Technologies in a research note issued to investors on Sunday, January 12th. Chardan Capital analyst K. Nakae now forecasts that the company will post earnings per share of ($7.63) for the year, up from their prior estimate of ($7.75). Chardan Capital currently has a “Neutral” rating on the stock. The consensus estimate for Allurion Technologies’ current full-year earnings is ($0.41) per share. Chardan Capital also issued estimates for Allurion Technologies’ FY2025 earnings at ($4.82) EPS.

Separately, TD Cowen assumed coverage on shares of Allurion Technologies in a report on Wednesday, October 2nd. They issued a “buy” rating and a $50.00 target price for the company. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $71.88.

Allurion Technologies Stock Performance

Shares of ALUR stock opened at $3.13 on Wednesday. The business has a fifty day simple moving average of $9.96 and a 200 day simple moving average of $15.87. Allurion Technologies has a twelve month low of $2.72 and a twelve month high of $98.75.

Institutional Investors Weigh In On Allurion Technologies

A hedge fund recently raised its stake in Allurion Technologies stock. Geode Capital Management LLC grew its position in shares of Allurion Technologies Inc. (NYSE:ALUR) by 40.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 516,330 shares of the company’s stock after purchasing an additional 149,484 shares during the quarter. Geode Capital Management LLC owned approximately 0.80% of Allurion Technologies worth $317,000 as of its most recent SEC filing. Institutional investors and hedge funds own 21.39% of the company’s stock.

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.