Endologix (ELGX) is Reiterated by RBC Capital Mkts to Outperform, Raises Price Target to $ 15

Endologix (ELGX) was Reiterated by RBC Capital Mkts to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 15 from a previous price target of $11 . RBC Capital Mkts advised their investors in a research report released on May 10, 2016.

Many Wall Street Analysts have commented on Endologix. Endologix was Resumed by JP Morgan to “Overweight” on Apr 4, 2016. Shares were Reiterated by RBC Capital Mkts on Feb 23, 2016 to “Outperform” and Lowered the Price Target to $ 11 from a previous price target of $15 .

On the company’s financial health, Endologix reported $-0.25 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on May 9, 2016. Analyst had a consensus of $-0.20. The company had revenue of $42.40 million for the quarter, compared to analysts expectations of $38.70 million. The company’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.14 EPS.

Endologix opened for trading at $11.14 and hit $11.45 on the upside on Friday, eventually ending the session at $11.3, with a gain of 0.80% or 0.09 points. The heightened volatility saw the trading volume jump to 12,58,975 shares. Company has a market cap of $923 M.

In a different news, on Jan 28, 2016, Charles Steele Love (VP-Clinical Affairs) sold 4,280 shares at $7.72 per share price. According to the SEC, on Nov 3, 2015, Guido J Neels (director) purchased 11,000 shares at $9.32 per share price. On Nov 3, 2015, Todd Abraham (VP of Operations) purchased 2,500 shares at $8.85 per share price, according to the Form-4 filing with the securities and exchange commission.

Endologix Inc. is engaged in developing manufacturing marketing and selling medical devices for the treatment of aortic disorders. The Company’s products are intended for the treatment of abdominal aortic aneurysms (AAA). The AAA products are built on one of two platforms: traditional minimally invasive endovascular repair (EVAR) or endovascular sealing (EVAS) its solution for sealing the aneurysm sac while maintaining blood flow through two blood flow lumens. The EVAR products include the Endologix AFX Endovascular AAA System (AFX) and the Endologix Powerlink with Intuitrak Delivery System (Intuitrak). The Company’s EVAS product is based on the Nellix platform to seal the aneurysm and provide blood flow to the legs through two blood lumens.


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