Endologix Inc. (ELGX) Rating Lowered to Neutral at JPMorgan Chase & Co.
Endologix Inc. (NASDAQ:ELGX) was downgraded by investment analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report released on Wednesday. They presently have a $10.00 price target on the stock, down from their previous price target of $14.00. JPMorgan Chase & Co.’s target price would suggest a potential upside of 28.04% from the company’s current price.
A number of other equities research analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Endologix from a “sell” rating to a “hold” rating and set a $11.00 target price for the company in a research note on Friday, November 4th. Oppenheimer Holdings Inc. set a $15.00 price objective on Endologix and gave the stock a “buy” rating in a research note on Wednesday, November 2nd. Leerink Swann set a $11.00 price objective on Endologix and gave the stock a “hold” rating in a research note on Wednesday, November 2nd. Canaccord Genuity set a $15.00 price objective on Endologix and gave the stock a “buy” rating in a research note on Sunday, October 30th. Finally, BMO Capital Markets restated a “buy” rating and issued a $15.00 price objective on shares of Endologix in a research note on Wednesday, August 3rd. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $12.31.
Shares of Endologix (NASDAQ:ELGX) opened at 7.81 on Wednesday. Endologix has a 52-week low of $6.22 and a 52-week high of $14.49. The stock’s market cap is $645.82 million. The firm’s 50-day moving average price is $11.17 and its 200-day moving average price is $12.20.
Endologix (NASDAQ:ELGX) last announced its earnings results on Tuesday, November 1st. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by $0.03. The company had revenue of $52.12 million for the quarter, compared to analysts’ expectations of $51.83 million. Endologix had a negative net margin of 78.53% and a negative return on equity of 39.12%. Endologix’s quarterly revenue was up 36.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.16) earnings per share. Equities analysts predict that Endologix will post ($0.71) EPS for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ELGX. Nomura Holdings Inc. bought a new position in Endologix during the second quarter valued at approximately $128,000. Teacher Retirement System of Texas increased its position in Endologix by 15.8% in the second quarter. Teacher Retirement System of Texas now owns 10,333 shares of the company’s stock valued at $129,000 after buying an additional 1,407 shares during the period. OLD National Bancorp IN bought a new position in Endologix during the second quarter valued at approximately $129,000. Villere ST Denis J & Co. LLC bought a new position in Endologix during the second quarter valued at approximately $134,000. Finally, Principal Financial Group Inc. increased its position in Endologix by 1.4% in the third quarter. Principal Financial Group Inc. now owns 10,988 shares of the company’s stock valued at $141,000 after buying an additional 147 shares during the period.
Endologix Company Profile
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, including 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.
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