Lucid Diagnostics (NASDAQ:LUCD) Price Target Raised to $9.00

Key Points

• Ascendiant Capital Markets raised Lucid Diagnostics (NASDAQ:LUCD) price target to $9.00 from $8.25 and maintained a "buy" rating; MarketBeat aggregation shows a consensus of "Moderate Buy" with an average price target of $4.13.
• Shares opened at $1.12 with a market cap of about $198 million and a negative P/E; the company missed quarterly EPS estimates (-$0.10 vs. -$0.07) while reporting revenue of $1.50 million, and institutional investors now own roughly 74% following several sizable new positions.

Lucid Diagnostics (NASDAQ:LUCD - Get Free Report) had its price objective hoisted by analysts at Ascendiant Capital Markets from $8.25 to $9.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock.

Several other analysts also recently issued reports on LUCD. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Lucid Diagnostics in a report on Monday, December 29th. Needham & Company LLC reaffirmed a "buy" rating and issued a $3.00 price target on shares of Lucid Diagnostics in a report on Thursday, March 26th. Wall Street Zen raised shares of Lucid Diagnostics from a "sell" rating to a "hold" rating in a report on Saturday, March 28th. Finally, BTIG Research reaffirmed a "buy" rating and issued a $2.50 price target on shares of Lucid Diagnostics in a report on Monday, March 30th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $4.13.

Lucid Diagnostics Stock Performance

LUCD stock opened at $1.12 on Thursday. The company has a market cap of $198.18 million, a P/E ratio of -1.17 and a beta of 1.24. Lucid Diagnostics has a 52 week low of $0.95 and a 52 week high of $1.70. The company's 50-day moving average price is $1.29 and its 200 day moving average price is $1.18.

Lucid Diagnostics (NASDAQ:LUCD - Get Free Report) last released its quarterly earnings data on Thursday, March 26th. The company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.03). The company had revenue of $1.50 million for the quarter, compared to analysts' expectations of $1.39 million. On average, equities research analysts expect that Lucid Diagnostics will post -0.84 earnings per share for the current year.

Institutional Trading of Lucid Diagnostics

Several institutional investors and hedge funds have recently modified their holdings of the business. Two Seas Capital LP acquired a new position in shares of Lucid Diagnostics in the third quarter valued at approximately $3,030,000. Ghisallo Capital Management LLC acquired a new position in shares of Lucid Diagnostics in the third quarter valued at approximately $2,990,000. Aberdeen Group plc acquired a new position in shares of Lucid Diagnostics in the third quarter valued at approximately $2,525,000. Geode Capital Management LLC raised its position in shares of Lucid Diagnostics by 420.3% in the second quarter. Geode Capital Management LLC now owns 1,577,369 shares of the company's stock valued at $1,814,000 after buying an additional 1,274,194 shares during the last quarter. Finally, Masters Capital Management LLC raised its position in shares of Lucid Diagnostics by 46.6% in the third quarter. Masters Capital Management LLC now owns 3,999,273 shares of the company's stock valued at $4,039,000 after buying an additional 1,272,000 shares during the last quarter. Hedge funds and other institutional investors own 74.01% of the company's stock.

About Lucid Diagnostics

Lucid Diagnostics is a molecular diagnostics company focused on improving early detection of oral and oropharyngeal cancers. The company's flagship offering, the LucidDx Oral Cytology Brush Test, combines a minimally invasive brush biopsy tool with proprietary laboratory analysis to identify cellular abnormalities indicative of malignancy. Samples collected in dental and medical offices are sent to Lucid's CLIA-certified and CAP-accredited laboratory, where advanced imaging and cytopathology workflows generate diagnostic reports for clinicians and patients.

Since commencing commercial operations, Lucid Diagnostics has worked to integrate its testing platform into dental practices, oral surgery clinics and ENT specialists across the United States.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.