Oppenheimer Maintains ELGX Outperform Rating

Oppenheimer has reiterated an Outperform Rating for Endologix Inc ELGX after attending management meetings. According to Oppenheimer, "After spending time with ELGX management on the road this week, we remain convinced that ELGX has the best product pipeline in AAA and that the new products will help meaningfully expand ELGX market share over the next few years. Next year (2012) is the start of the breakout period for the pipeline with key launches in the US and EU. We believe the trialing of competitor products near term remains at this point within management's expectations and we maintain our '11 sales growth estimate of 20%." ELGX has a $10.00 Price Target and closed yesterday at $6.66 a share.