UPDATE: Oppenheimer Raises Endologix's PT

According to a research report released earlier today, Oppenheimer has increased Endologix Inc.'s ELGX PT from $14 to $17. Oppenheimer said in the report, “Over the past week, we had the opportunity to catch up with three of the world's leading endovascular surgeons on their experiences with ELGX's Nellix abdominal aortic aneurysm (AAA) system, slated for European approval mid-year. The three surgeons were among the initial clinical investigators of Nellix. Based on our extensive conversations, we're increasingly confident that Nellix will be viewed as a front-line product in the AAA market. We are raising our sales estimates for '13 and beyond and price target to $17, and see the stock as well positioned here on any dips ahead of several 2H12 key catalysts.” Oppenheimer maintains its Outperform rating on Engologix, which closed yesterday at $13.39.