Cantor Fitzgerald maintains Lucid Diagnostics stock at overweight

In addition to the positive operational results, Lucid (NASDAQ:LCID) Diagnostics anticipates a crucial development in the first half of 2025. The company expects a Local Coverage Determination (LCD) decision, which would secure Medicare coverage for its EsoGuard test. This decision is seen as a pivotal step for Lucid Diagnostics, potentially expanding the availability and financial support for the test among Medicare beneficiaries.Cantor Fitzgerald’s reiterated Overweight rating indicates the firm’s optimism about Lucid Diagnostics’ future prospects and performance. The stock has shown strong momentum, with a 97% price return over the past six months and trading near its 52-week high of $1.63. The company’s momentum, underpinned by operational improvements and strategic wins in the reimbursement landscape, is expected to support its growth trajectory moving forward. For deeper insights into Lucid Diagnostics’ financial health and growth prospects, access the comprehensive Pro Research Report available exclusively on InvestingPro.

In addition to the positive operational results, Lucid Diagnostics anticipates a crucial development in the first half of 2025. The company expects a Local Coverage Determination (LCD) decision, which would secure Medicare coverage for its EsoGuard test. This decision is seen as a pivotal step for Lucid Diagnostics, potentially expanding the availability and financial support for the test among Medicare beneficiaries.Cantor Fitzgerald’s reiterated Overweight rating indicates the firm’s optimism about Lucid Diagnostics’ future prospects and performance. The stock has shown strong momentum, with a 97% price return over the past six months and trading near its 52-week high of $1.63. The company’s momentum, underpinned by operational improvements and strategic wins in the reimbursement landscape, is expected to support its growth trajectory moving forward. For deeper insights into Lucid Diagnostics’ financial health and growth prospects, access the comprehensive Pro Research Report available exclusively on InvestingPro.

In addition to the positive operational results, Lucid Diagnostics anticipates a crucial development in the first half of 2025. The company expects a Local Coverage Determination (LCD) decision, which would secure Medicare coverage for its EsoGuard test. This decision is seen as a pivotal step for Lucid Diagnostics, potentially expanding the availability and financial support for the test among Medicare beneficiaries.

Cantor Fitzgerald’s reiterated Overweight rating indicates the firm’s optimism about Lucid Diagnostics’ future prospects and performance. The company’s momentum, underpinned by operational improvements and strategic wins in the reimbursement landscape, is expected to support its growth trajectory moving forward.

In other recent news, Lucid Diagnostics Inc. reported its fourth-quarter earnings for 2024, which did not meet analyst expectations. The company posted revenue of $1.19 million, falling short of the anticipated $1.43 million, and an EPS of -$0.19, missing the forecast of -$0.17. Despite the shortfall, Lucid Diagnostics achieved a record quarterly test volume of 4,042 EsoGuard tests, marking an 84% year-over-year increase. Analysts from BTIG, Canaccord Genuity, and Needham have shown varied reactions, with BTIG adjusting its price target to $2.00 while maintaining a Buy rating, Canaccord maintaining a $3.00 target, and Needham raising its target to $3.00 based on growth outlook.

The company has made strides in expanding its reimbursement coverage, securing new policies for its EsoGuard test and achieving significant health plan payor wins. Lucid Diagnostics is optimistic about potential Medicare coverage decisions expected in the first half of 2025, which could significantly enhance its market reach. The company also secured an $8 million NIH grant to expand its cancer screening indications, further bolstering its growth prospects. Lucid Diagnostics concluded the quarter with approximately $37 million in pro forma cash, supported by a $15 million capital raise in March. These developments reflect Lucid Diagnostics’ ongoing efforts to expand its market position and improve its financial performance.

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