Roth MKM initiated coverage of Allurion Technologies with a Buy rating and $2 price target. The company has developed a next-generation intragastric balloon for weight loss, the analyst tells investors in a research note. The firm says the product improves upon earlier balloon designs as it does not require surgery, endoscopy, or anesthesia for placement and removal. Allurion’s balloon is CE Marked and will have topline results from its pivotal trial for PMA submission at the end of 2024, setting up for a late 2025 approval in the U.S., opening up a wider market opportunity, contends Roth.
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