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On Monday, Cantor Fitzgerald reiterated its Overweight rating and $2.00 price target for Lucid (NASDAQ:LCID) Diagnostics Inc (NASDAQ:LUCD) shares, which currently has a market capitalization of $130.36 million. The firm’s analyst Ross Osborn provided insights following the company’s first-quarter financial report for 2025. According to InvestingPro data, while Lucid Diagnostics reported revenues of $0.8 million, which fell short of Cantor Fitzgerald’s projection of $1.7 million and the FactSet consensus of $1.2 million, marking a year-over-year decrease of approximately 20%, the company’s overall revenue growth remains strong at 39.89% for the last twelve months.
The company’s test volumes saw a sequential drop of around 25% but experienced a year-over-year increase of approximately 25%, totaling 3,034 tests for the quarter. Despite operational challenges, InvestingPro data shows the stock has demonstrated strong momentum with a 53.9% year-to-date return. Lucid Diagnostics is on the cusp of potentially receiving a local coverage decision that would secure Medicare Coverage for its EsoGuard product. This development is seen as pivotal for the company, shifting the focus from volume growth to revenue generation.
Despite the lower-than-expected revenue, Lucid Diagnostics is aiming to maintain its test volume within the range of 2,500 to 3,000 tests as previously reported. The analyst’s commentary underscores the significance of the anticipated Medicare Coverage for EsoGuard, which is expected to be a major catalyst for the company’s future financial performance.
Lucid Diagnostics’ financial results and corporate updates were initially reported on May 14, 2025. The company’s focus remains on securing Medicare Coverage for EsoGuard, which is anticipated to have a substantial impact on its revenue trajectory. As of now, Lucid Diagnostics continues to operate within the test volume range set in its recent reports.
In other recent news, Lucid Diagnostics reported its first-quarter 2025 earnings, revealing a revenue of $800,000, which did not meet analyst expectations. Cantor Fitzgerald maintained an Overweight rating on the company, setting a price target of $2.00, despite the revenue falling short of both Cantor’s and FactSet’s projections. Lucid Diagnostics performed 3,034 EsoGuard tests in the quarter, surpassing expectations and indicating strong demand. The company is anticipating a local coverage decision that could secure Medicare Coverage for its EsoGuard test, a development that could significantly impact its revenue generation strategy.
The company secured its first positive policy coverage from Highmark Blue Cross Blue Shield, marking a step forward in its reimbursement efforts. Lucid Diagnostics is also focusing on expanding its market presence through strategic partnerships and is preparing for a large-scale real-world evidence study. Financially, the company ended the quarter with $25.2 million in cash, which increased to $41 million following an April offering. While the company faces reimbursement challenges with major insurers, it remains optimistic about its future growth, with projections of substantial revenue increases by FY2026.
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