Endologix (ELGX) : Traders are bullish on Endologix (ELGX) as it has outperformed the S&P 500 by a wide margin of 8.69% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.85%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.79% in the last 1 week, and is up 12.34% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 2.99% and the 50-Day Moving Average is 8.67%. Endologix Inc. is up 25.87% in the last 3-month period. Year-to-Date the stock performance stands at 42.53%.
Endologix (NASDAQ:ELGX): On Fridays trading session , Opening price of the stock was $14.25 with an intraday high of $14.35. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $14.055. However, the stock managed to close at $14.11, a loss of 1.12% for the day. On the previous day, the stock had closed at $14.27. The total traded volume of the day was 2,095,368 shares.
Also, Equity Analysts at the Brokerage Firm, BMO Capital, upgrades their rating on the shares of Endologix (NASDAQ:ELGX). BMO Capital has a Outperform rating on the shares. Previously, the analysts had a Market Perform rating on the shares. As per the latest research report, the brokerage house raises the price target to $16 per share from a prior target of $11.5. The rating by the firm was issued on July 7, 2016.
Endologix, Inc. is engaged in developing, manufacturing, marketing and selling medical devices for the treatment of aortic disorders. The Companys 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 Companys EVAS product is based on the Nellix platform to seal the aneurysm and provide blood flow to the legs through two blood lumens.