Wedbush Starts Endologix (ELGX) at Outperform; Promising Endovascular Pure Play
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Price: $14.51 +3.50%
Rating Summary:
9 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
9 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade ELGX Now!
Wedbush initiates coverage on Endologix (NASDAQ: ELGX) with a Outperform. PT $9.
Wedbush analyst says, "We believe Endologix is poised to grow annual revenues at least 25% this year (2010), and has exceeded such growth in each of the past five years. In addition, the company also reported 79% gross margins in its most recent quarter, and retains significant growth potential, guiding to 2011 revenues of $78-82 million (16%-24% y/y growth). These sound fundamentals should lead the company to core business profitability in 2011 and full company profitability in late 2012. As a result, we believe that Endologix stands-out as one of a relatively small number of strong growth medical device opportunities."
For more ratings news on Endologix click here and for the rating history of Endologix click here.
Shares of Endologix closed at $5.75 yesterday, with a 52 week range of $3.30-$6.05.
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Wedbush analyst says, "We believe Endologix is poised to grow annual revenues at least 25% this year (2010), and has exceeded such growth in each of the past five years. In addition, the company also reported 79% gross margins in its most recent quarter, and retains significant growth potential, guiding to 2011 revenues of $78-82 million (16%-24% y/y growth). These sound fundamentals should lead the company to core business profitability in 2011 and full company profitability in late 2012. As a result, we believe that Endologix stands-out as one of a relatively small number of strong growth medical device opportunities."
For more ratings news on Endologix click here and for the rating history of Endologix click here.
Shares of Endologix closed at $5.75 yesterday, with a 52 week range of $3.30-$6.05.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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