Endologix Inc (ELGX) Gets a Hold Rating from Stifel Nicolaus

By Austin Angelo

Stifel Nicolaus analyst Mathew Blackman reiterated a Hold rating on Endologix Inc (NASDAQ: ELGX) on August 10 and set a price target of $3. The company’s shares closed on Friday at $2.99, close to its 52-week low of $2.66.

Endologix Inc has an analyst consensus of Hold, with a price target consensus of $4.44, which is a 48.5% upside from current levels. In a report issued on August 10, Piper Jaffray also downgraded the stock to Hold with a $4.75 price target.

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Based on Endologix Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $23.88 million. In comparison, last year the company had a GAAP net loss of $16.29 million.

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Endologix, Inc. engages in the research, development, manufacture, and trade of medical devices for the treatment of aortic disorders such as abdominal aortic aneurysms (AAA). Its products include AFX Endovascular AAA System, Nellix and Ovation. The company was founded in March 1992 and is headquartered in Irvine, CA.