Lucid Diagnostics stock holds steady as BTIG reiterates Buy rating

Investing.com - BTIG has reiterated its Buy rating and $2.00 price target on Lucid (NASDAQ:LCID) Diagnostics Inc (NASDAQ:LUCD), currently trading at $0.99, following the company’s Q2 results and earnings call. The $104 million market cap company maintains a Strong Buy consensus among analysts, with targets ranging from $2.00 to $7.75.

The research firm noted that Lucid delivered Q2 volumes in line with its outlook, showing 14.7% year-over-year revenue growth despite negative gross margins. Investor attention is primarily focused on an upcoming Medicare meeting scheduled for September 4, 2025, which will be moderated by Palmetto GBA’s Gabe Bien-Willner and include Medicare contractors from various geographical jurisdictions. InvestingPro analysis reveals the company is rapidly burning through cash, a critical factor for upcoming quarters.

While some investors view the meeting as a binary risk, BTIG expressed optimism that Medicare Administrative Contractors (MACs) are creating a forum for experts to discuss EsoGuard’s clinical utility on public record, with expectations for a positive Contractor Advisory Committee (CAC) meeting.

BTIG anticipates a favorable draft Local Coverage Determination (LCD) notice within approximately 2-3 months after the September meeting, followed by a final LCD becoming effective around late 2025 or early 2026.

The firm highlighted that Lucid’s minimally invasive EsoGuard test addresses a significant unmet need by screening approximately 30 million Americans at risk for esophageal adenocarcinoma (EAC), with a Medicare price of $1,938 per test, suggesting a total addressable market of approximately $60 billion. For deeper insights into LUCD’s valuation and growth prospects, including 5 additional ProTips and comprehensive financial analysis, visit InvestingPro.

In other recent news, Lucid Diagnostics reported its second-quarter 2025 financial results, which included a revenue of $1.2 million. This figure represents a year-over-year growth of approximately 19%, primarily driven by an increase in the volume of its EsoGuard diagnostic test. The revenue slightly exceeded the FactSet consensus estimate of $1.1 million but did not meet Cantor Fitzgerald’s projection of $1.5 million. Additionally, the company’s earnings per share (EPS) came in at -$0.10, surpassing the forecast of -$0.11. Despite this EPS beat, the revenue was in line with projections at $1.16 million. Cantor Fitzgerald has reiterated its Overweight rating on Lucid Diagnostics, maintaining a price target of $3.00. These updates highlight the recent developments surrounding Lucid Diagnostics, as the company navigates its financial performance and market expectations.

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