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Investing.com - Needham has reiterated its Buy rating and $3.00 price target on Lucid Diagnostics Inc (NASDAQ:LUCD) following the company’s third-quarter results. The target represents a 170% upside from the current price of $1.11, though InvestingPro data suggests the stock may be overvalued based on its Fair Value assessment.
Lucid Diagnostics reported EsoGuard test volume grew 2% year-over-year to 2,841 tests in the third quarter of 2025, though the company missed consensus revenue expectations. Despite this modest test volume growth, the company has achieved 14.74% revenue growth over the last twelve months.
The company’s operating expenses came in below Needham’s estimates, while Lucid ended the quarter with approximately $47 million in pro forma cash, maintaining a stable cash burn rate compared to the second quarter. InvestingPro identifies "quickly burning through cash" as a key concern, with the company’s Financial Health Score rated as WEAK at 1.68.
Needham cited positive data and a favorable Contractor Advisory Committee meeting on September 4, 2025, suggesting the Centers for Medicare & Medicaid Services (CMS) will likely revise the Local Coverage Determination to cover the EsoGuard test.
The firm expects Lucid’s revenue growth to accelerate and narrow the gap with EsoGuard test volume growth as the company secures coverage from Medicare and other insurers.
In other recent news, Lucid Diagnostics Inc. reported its Q3 2025 earnings, highlighting a 3% year-over-year increase in revenue, totaling $1.2 million. The company is focusing strategically on targeting Medicare patients and conducting ongoing studies to expand its diagnostic test market. These developments underscore Lucid Diagnostics’ efforts to strengthen its market presence and enhance its product offerings. While the company’s stock saw some movement, the primary focus remains on its revenue growth and strategic initiatives. The earnings report did not include any mention of mergers or acquisitions. Analysts have yet to provide any upgrades or downgrades following the earnings release. Overall, the recent earnings report reflects Lucid Diagnostics’ commitment to growth and market expansion through targeted strategies.
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