BTIG Research Reaffirms “Buy” Rating for Lucid Diagnostics (NASDAQ:LUCD)

Lucid Diagnostics (NASDAQ:LUCD)‘s stock had its “buy” rating reissued by equities researchers at BTIG Research in a note issued to investors on Friday,Benzinga reports. They presently have a $2.50 price target on the stock. BTIG Research’s price objective would indicate a potential upside of 145.10% from the stock’s previous close.

Several other brokerages have also commented on LUCD. Ascendiant Capital Markets increased their price target on shares of Lucid Diagnostics from $8.25 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, April 9th. Needham & Company LLC reiterated a “buy” rating and issued a $3.00 price objective on shares of Lucid Diagnostics in a report on Thursday, March 26th. Wall Street Zen downgraded shares of Lucid Diagnostics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Lucid Diagnostics in a report on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Lucid Diagnostics currently has an average rating of “Moderate Buy” and an average price target of $4.83.

Lucid Diagnostics Stock Performance

Shares of NASDAQ LUCD opened at $1.02 on Friday. The stock has a market cap of $199.16 million, a price-to-earnings ratio of -1.06 and a beta of 1.10. The business has a 50 day simple moving average of $1.21 and a 200 day simple moving average of $1.19. Lucid Diagnostics has a 52 week low of $0.95 and a 52 week high of $1.70.

Lucid Diagnostics (NASDAQ:LUCD) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The company had revenue of $1.26 million for the quarter, compared to analysts’ expectations of $1.38 million. On average, analysts predict that Lucid Diagnostics will post -0.22 EPS for the current year.

Hedge Funds Weigh In On Lucid Diagnostics

A number of institutional investors have recently modified their holdings of the company. XML Financial LLC lifted its stake in shares of Lucid Diagnostics by 24.8% in the first quarter. XML Financial LLC now owns 223,195 shares of the company’s stock worth $257,000 after buying an additional 44,400 shares during the last quarter. XTX Topco Ltd acquired a new position in Lucid Diagnostics in the 4th quarter valued at $246,000. Millennium Management LLC bought a new position in Lucid Diagnostics in the 4th quarter worth $168,000. Abel Hall LLC bought a new position in Lucid Diagnostics in the 4th quarter worth $33,000. Finally, Squarepoint Ops LLC lifted its position in Lucid Diagnostics by 1,871.7% during the 4th quarter. Squarepoint Ops LLC now owns 342,883 shares of the company’s stock worth $374,000 after acquiring an additional 325,493 shares during the last quarter. 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.