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Upgrade Alert for Endologix (ELGX)

By Shiri Gupta

Endologix (NASDAQ:ELGX) was upgraded from Market Perform to Outperform at BMO Capital today. The stock closed yesterday at $13.70 on volume of 2.1 million shares, above average daily volume of 866,000.

Over the past year, Endologix has traded in a range of $6.51 to $18.07 and closed yesterday at $13.70, 110% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 3.2%.

Endologix, Inc. develops, manufactures, sells, and markets minimally invasive treatments for vascular diseases. The Company's products include the Powerlink System, a catheter-based endoluminal stent graft that treats abdominal aortic aneurysms. Endologix's products are sold in the United States as well as international markets.

Endologix (NASDAQ:ELGX) has potential upside of 11.1% based on a current price of $13.70 and analysts' consensus price target of $15.22. The stock should discover initial support at its 200-day moving average (MA) of $10.53 and subsequent support at its 50-day MA of $9.44.

SmarTrend recommended that subscribers consider buying shares of Endologix on March 2nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $8.78. Since that recommendation, shares of Endologix have risen 49.8%. We continue to monitor ELGX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades endologix

Ticker(s): ELGX