There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Progenics (PGNX) and Endologix Inc (ELGX) with bullish sentiments.
Progenics (PGNX)
Brookline Capital Markets analyst Kumaraguru Raja maintained a Buy rating on Progenics on January 3 and set a price target of $13. The company’s shares closed on Friday at $4.35, close to its 52-week low of $3.62.
According to TipRanks.com, Raja is ranked 0 out of 5 stars with an average return of -10.2% and a 35.0% success rate. Raja covers the Healthcare sector, focusing on stocks such as Corbus Pharmaceuticals, Acer Therapeutics Inc, and Cellectar Biosciences.
Progenics has an analyst consensus of Strong Buy, with a price target consensus of $9.83.
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Endologix Inc (ELGX)
In a report issued on January 4, Sean Lavin from BTIG maintained a Buy rating on Endologix Inc, with a price target of $4. The company’s shares closed on Friday at $0.60, close to its 52-week low of $0.59.
Lavin observed:
“Friday, ELGX announced it will stop sales of Nellix OUS and limit use to clinical protocols that are aligned with the current IFU. While we think the method (a recall and Field Safety Notices) is probably overly aggressive and very cautious, we do not see this change as material to the company, we do not expect it to meaningfully impact revenue, and we expect it will preserve the long-term potential for Nellix’s US approval, launch, and adoption. OUS sales were minimal and 2019 guidance was reiterated in the release. We spoke to management and understand why ELGX chose to stop OUS sales. Given the long-term potential for on-label EVAS adoption, we think it makes sense to avoid any off-label issues that could arise and derail Nellix.”
According to TipRanks.com, Lavin is a 5-star analyst with an average return of 8.6% and a 55.8% success rate. Lavin covers the Healthcare sector, focusing on stocks such as Establishment Labs Holdings Inc, Helius Medical Technologies, and Tactile Systems Technology.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Endologix Inc with a $2.63 average price target.
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