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Fly News Breaks for October 3, 2018
ELGX
Oct 3, 2018 | 05:08 EDT
Piper Jaffray analyst Matt O'Brien lowered his price target for Endologix to $3 following the company's analyst day and keeps a Neutral rating on the shares. While preliminary Q3 revenue came in ahead of "fairly depressed" expectations, Endologix's pipeline of products and clinical data are unlikely to meaningfully impact results in the near term, O'Brien tells investors in a research note. The analyst remains cautious on the shares pending evidence of sustained traction in the new strategic plan.
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