Lucid Diagnostics (NASDAQ:LUCD) Earns "Buy" Rating from BTIG Research

Key Points

• BTIG Research reaffirmed its Buy rating on Lucid Diagnostics. Four analysts rate the stock Buy and one Sell, giving it a consensus “Moderate Buy” rating and an average price target of $4.19.
• Shares opened at $0.42, below their 50-day average of $0.61 and 200-day average of $0.99; the stock’s 52-week range is $0.30 to $1.63.
• Lucid reported quarterly EPS of -$0.06, matching estimates, while revenue of $1.20 million fell short of the $1.63 million consensus estimate.

Lucid Diagnostics (NASDAQ:LUCD - Get Free Report)'s stock had its "buy" rating reissued by investment analysts at BTIG Research in a research report issued on Thursday, Benzinga reports.

A number of other equities research analysts also recently commented on the company. Weiss Ratings downgraded Lucid Diagnostics from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, August 18th. Needham & Company LLC restated a "buy" rating on shares of Lucid Diagnostics in a report on Thursday, October 1st. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Lucid Diagnostics currently has a consensus rating of "Moderate Buy" and an average price target of $4.19.

Lucid Diagnostics Stock Performance

Shares of Lucid Diagnostics stock opened at $0.42 on Thursday. The firm has a fifty day moving average of $0.61 and a two-hundred day moving average of $0.99. The stock has a market capitalization of $84.61 million, a price-to-earnings ratio of -0.89 and a beta of 1.19. Lucid Diagnostics has a 52 week low of $0.30 and a 52 week high of $1.63.

Lucid Diagnostics (NASDAQ:LUCD - Get Free Report) last posted its quarterly earnings results on Thursday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). The company had revenue of $1.20 million during the quarter, compared to the consensus estimate of $1.63 million. As a group, research analysts forecast that Lucid Diagnostics will post -0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Lucid Diagnostics

A number of hedge funds have recently modified their holdings of the business. Alyeska Investment Group L.P. acquired a new position in shares of Lucid Diagnostics in the 2nd quarter valued at approximately $9,477,000. BlackRock Inc. acquired a new stake in Lucid Diagnostics during the 2nd quarter worth approximately $8,959,000. Two Seas Capital LP acquired a new stake in Lucid Diagnostics during the 2nd quarter worth approximately $6,420,000. Sunbelt Securities Inc. lifted its stake in Lucid Diagnostics by 134.4% in the first quarter. Sunbelt Securities Inc. now owns 900,013 shares of the company's stock valued at $1,035,000 after buying an additional 516,014 shares in the last quarter. Finally, XML Financial LLC lifted its stake in Lucid Diagnostics by 44.8% in the second quarter. XML Financial LLC now owns 323,195 shares of the company's stock valued at $346,000 after buying an additional 100,000 shares in the last quarter. Institutional investors and hedge funds own 74.01% of the company's stock.

About Lucid Diagnostics

Lucid Diagnostics is a U.S.-based medical diagnostics company focused on identifying esophageal precancer and cancer. Its primary offering is EsoGuard, a DNA-based test designed to detect cellular changes associated with Barrett's esophagus, a condition that can increase the risk of esophageal cancer. The test is designed to work with EsoCheck, a swallowable balloon device that collects cells from the esophagus for analysis. Together, the products are intended to provide a less invasive approach to evaluating patients for esophageal disease than traditional endoscopic procedures.

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