Endologix (ELGX): Raising PT - Oppenheimer

Oppenheimer analyst, Steven Lichtman, hosted a call with Dr. Andrew Holden, PI in the Nellix EVAS FORWARD Global Registry and an early Nellix user. Holden uses Nellix in ~70-80% of cases. While Nellix’s ability to reduce Type II endoleaks is well known and has been demonstrated clinically, Dr. Holden highlighted an under-appreciated Nellix benefit in its flexibility to treat complex anatomies. Dr. Holden's comments support the analyst's assumptions which reflect a pick-up in market growth led by Nellix use in complex anatomies and Nellix taking 15% market share on its own by 2020.

No change to Outperform rating but the price target increases to $16.00 from $15.00).

For an analyst ratings summary and ratings history on Endologix click here. For more ratings news on Endologix click here.

Shares of Endologix closed at $12.56 yesterday.

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