Canaccord Genuity Upgrades Endologix to Buy

Brokerage firm Canaccord Genuity Upgrades its rating on Endologix(NASDAQ:ELGX). The shares have been rated Buy. Previously, the analysts had a Hold rating on the shares. The rating by Canaccord Genuity was issued on Jun 13, 2016.

In a different note, On Apr 4, 2016, JP Morgan said it Assumes its rating on Endologix. The shares have been rated ‘Overweight’ by the firm.

Endologix (ELGX) shares turned negative on Fridays trading session with the shares closing down -0.19 points or -1.50% at a volume of 14,58,693. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $12.69. The peak price level was also seen at $12.69 while the days lowest was $12.41. Finally the shares closed at $12.45. The 52-week high of the shares is $16.79 while the 52-week low is $6.505. According to the latest information available, the market cap of the company is $1,019 M.

Endologix(ELGX) last announced its earnings results on May 9, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $42.37M. Analysts had an estimated revenue of $38.78M. Earnings per share were $-0.25. Analysts had estimated an EPS of $-0.24.

Several Insider Transactions has been reported to the SEC. On Jun 6, 2016, Gregory D Waller (director) sold 7,800 shares at $12.86 per share price.Also, On Jun 2, 2016, David M. Jennings (VP-Human Resources) sold 957 shares at $12.55 per share price.On Jun 2, 2016, James Edward Machek (VP-Research & Development) sold 957 shares at $12.55 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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