Endologix soars on Q3 prelims beat, raised outlook

Endologix (NSDQ:ELGX) share prices opened up nearly 28% today after the stent graft maker’s preliminary third-quarter sales beat the consensus forecast and it raised the bottom of its top-line outlook for the rest of the year.

Irvine, Calif-based Endologix said it expects to report sales of $34.3 million to $34.7 million for the three months ended Sept. 30, 10.3% to 11.6% ahead of the $31.1 million consensus estimate on Wall Street.

Full-year sales are now expected to reach $150 million to $155 million, compared with prior guidance of $145 million to $155 million, the company said.

The news sent ELGX shares up 27.9% to a $2.20 opening price today; the stock was trading at $1.95 per share in mid-morning activity, up 13.1%.

The post Endologix soars on Q3 prelims beat, raised outlook appeared first on MassDevice.

from MassDevice https://ift.tt/2xU7KLO