Winning ELGX Stock Forecast: Endologix Ends May With More Than 30% Gains

Our top-line performance during the first quarter reflects slightly better-than-expected growth in our OUS business driven by solid AFX growth in both the European and CAPLA markets…These accomplishments reinforce Endologix’s value proposition and our commitment to delivering the best products to physicians and patients around the globe.”

– Vaseem Mahbob, CFO of Endologix

(Source: PxHere)

Over the past 30 days, Endologix, Inc. (NASDAQ: ELGX) has been steadily climbing. Endologix, develops, produces, and sells medical equipment used in the treatment of abdominal aortic aneurysms (AAA). ELGX opened at $4.29 on April 30, 2018 and closed at $5.59 on May 29, 2018 showing gains of over 30%. In comparison, the S&P 500 has minimal gains of less than 5% over the same time horizon.

On May 2, Endologix released its Q1 2018 earnings report which were not phenomenal. While US revenue decreased slightly, international revenue did grow by 10.1% YoY. Overall, revenue dropped .8% YoY. Gross profit decreased by a small amount, but so did operating expenses thanks to effective and efficient cost management. The company did maintain a net loss for the quarter, however, both adjusted and non-adjusted losses are smaller than they were the year before.

Additionally, at the beginning of the month, the company appointed John Onopchenko to the position of CEO. Mr. Onopchenko has almost 30 years of executive experience and was most recently COO of Endologix. His knowledge of the company will be invaluable to his new position and he will be able to steer ELGXinto the future. Already, Onopchenko has focused on improving the production and quality management review process in light of a recall late last year. Additionally, he has worked to more accurately prioritize projects and make sure proper resources are allocated to each. Meanwhile, Endologix has been running trials on many of its devices and some of them look very promising and will hopefully be able to increase the survival rate of AAA. A trial that concluded in late April showed that using Endologix products reduced the mortality rate of the disease. Tens of thousands of people die every year from aortic aneurysms yearly so Endologix’s products have the potential to save many lives.

Over the month, the majority of analysts opted to hold the stock while only one indicated ELGX was a strong buy.

I Know First’s Algorithm Success With ELGX Stock:

On April 29, 2018, I Know First algorithm issued a bullish 1 month forecast for ELGX within the stocks under $5 forecast. The forecast illustrated a signal of 13.10 and a predictability of 0.14.  In accordance with this bullish forecast, ELGX stock returned 30.30% over this period, highlighting the accuracy of the prediction produced by the I Know First algorithm.

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Endologix, Inc. (NASDAQ ELGX), incorporated on June 2, 1993, 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 blood flow lumens. The EVAR products include the Endologix AFX Endovascular AAA System (AFX), the VELA Proximal Endograft (VELA) and the Endologix Powerlink with Intuitrak Delivery System (Intuitrak). The EVAS product is the Nellix EndoVascular Aneurysm Sealing System (Nellix EVAS System). Sales of the Company’s EVAR and EVAS platforms (including extensions and accessories) to hospitals in the United States and Europe, and to third-party international distributors provide the sole source of its revenue. It offers various accessories to facilitate the optimal delivery of its EVAR and EVAS products, including compatible guidewires, snares, and catheter introducer sheaths.


Before making any trading decisions, consult the latest forecast as the algorithm updates predictions daily. You can use the algorithm for intra-day trading. The predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts. Algorithmic traders utilize these daily forecasts by the I Know First market prediction system as a tool to enhance portfolio performance, verify their own analysis and act on market opportunities faster. This forecast was sent to current I Know First subscribers.