Lucid Diagnostics Inc. (NASDAQ:LUCD) Stock Has Consensus Price Target of $4.19

Key Points

• Analysts have a “Moderate Buy” consensus on Lucid Diagnostics, with four buy ratings and one sell rating. The average 12-month price target is $4.19, well above the stock’s recent $0.64 opening price.
• LUCD reported a quarterly loss of $0.06 per share, in line with estimates, while revenue of $1.47 million slightly exceeded expectations. Analysts expect a full-year loss of approximately $0.23 per share.
• Institutional ownership stands at 74.01%, with firms including Alyeska Investment Group, BlackRock, and Two Seas Capital initiating sizable positions during the second quarter.

Shares of Lucid Diagnostics Inc. (NASDAQ:LUCD - Get Free Report) have been given an average recommendation of "Moderate Buy" by the five brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $4.19.

Several brokerages recently weighed in on LUCD. Wall Street Zen lowered Lucid Diagnostics from a "hold" rating to a "sell" rating in a report on Saturday, July 4th. Weiss Ratings downgraded shares of Lucid Diagnostics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, August 18th. BTIG Research reissued a "buy" rating and issued a $2.50 price target on shares of Lucid Diagnostics in a research report on Monday, August 17th. Finally, Needham & Company LLC reaffirmed a "buy" rating on shares of Lucid Diagnostics in a report on Thursday, October 1st.

Lucid Diagnostics Stock Down 1.9%

Shares of LUCD stock opened at $0.64 on Friday. The firm has a market cap of $129.67 million, a P/E ratio of -1.36 and a beta of 1.12. The company has a 50 day moving average of $0.87 and a 200-day moving average of $1.00. Lucid Diagnostics has a 12-month low of $0.50 and a 12-month high of $1.63.

Lucid Diagnostics (NASDAQ:LUCD - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). The firm had revenue of $1.47 million for the quarter, compared to the consensus estimate of $1.43 million. As a group, equities analysts expect that Lucid Diagnostics will post -0.23 EPS for the current year.

Institutional Investors Weigh In On Lucid Diagnostics

Several institutional investors have recently made changes to their positions in LUCD. Alyeska Investment Group L.P. purchased a new position in shares of Lucid Diagnostics in the second quarter valued at $9,477,000. BlackRock Inc. purchased a new stake in Lucid Diagnostics during the 2nd quarter worth about $8,959,000. Two Seas Capital LP purchased a new stake in Lucid Diagnostics during the 2nd quarter worth about $6,420,000. Sunbelt Securities Inc. lifted its holdings in Lucid Diagnostics by 134.4% during the 1st quarter. Sunbelt Securities Inc. now owns 900,013 shares of the company's stock worth $1,035,000 after purchasing an additional 516,014 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Lucid Diagnostics in the 2nd quarter worth about $323,000. Hedge funds and other institutional investors own 74.01% of the company's stock.

Lucid Diagnostics Company Profile

Lucid Diagnostics Inc is a commercial-stage medical diagnostics company focused on detecting esophageal precancer and cancer at an earlier, more treatable stage. The company is a subsidiary of PAVmed Inc and develops diagnostic products intended to help identify patients at risk for esophageal adenocarcinoma, a cancer associated with Barrett's esophagus and chronic gastroesophageal reflux disease.

Lucid's primary products are EsoGuard, a laboratory-developed DNA test, and EsoCheck, a noninvasive, swallowable balloon device used to collect cells from the esophagus.

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