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On Friday, Ascendiant Capital analysts raised the 12-month price target for Lucid (NASDAQ:LCID) Diagnostics Inc (NASDAQ: LUCD) to $7.75 from the previous target of $7.50. The analysts maintained their Buy rating on the stock, citing an attractive valuation. The new target represents significant upside potential from the current price of $1.21, though InvestingPro data shows the stock has already gained over 44% in the past six months.
The analysts highlighted the potential for significant upside from the current share price, which they believe justifies the price target increase. Their assessment was based on a net present value analysis that considers the company’s high risks alongside substantial upside opportunities. According to InvestingPro analysis, LUCD faces challenges with weak gross profit margins and rapid cash burn, though it maintains moderate debt levels.
Lucid Diagnostics is currently trading on the NASDAQ exchange under the ticker LUCD. The analysts’ decision to maintain the Buy rating reflects confidence in the company’s future prospects despite its inherent risks.
The revised price target suggests optimism about Lucid Diagnostics’ potential growth, with the analysts emphasizing the balance between risks and opportunities.
In other recent news, Lucid Diagnostics Inc. reported its first-quarter 2025 earnings with revenue totaling $800,000, a figure that fell short of both Cantor Fitzgerald’s projection of $1.7 million and the FactSet consensus of $1.2 million. Despite this, the company performed 3,034 EsoGuard tests, which exceeded expectations. Cantor Fitzgerald maintained its Overweight rating on Lucid Diagnostics, with a price target of $2.00, indicating confidence in the company’s prospects. Lucid Diagnostics is on the verge of potentially securing Medicare Coverage for its EsoGuard product, which is anticipated to be a significant catalyst for future revenue growth.
Additionally, Lucid Diagnostics announced its inclusion in the Russell 2000 and Russell 3000 Indexes, a development expected to enhance its visibility among institutional investors. The company also secured its first positive policy coverage from Highmark Blue Cross Blue Shield, marking a step forward in its reimbursement strategy. Furthermore, Lucid Diagnostics is actively expanding its market presence through strategic partnerships and innovative campaigns, aiming for substantial revenue growth in the coming quarters. The company is also preparing for a large-scale real-world evidence study involving 12,000 patients, which could further bolster its market position.
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