Lucid Diagnostics (NASDAQ:LUCD) Earns Buy Rating from BTIG Research

Lucid Diagnostics (NASDAQ:LUCD)‘s stock had its “buy” rating reiterated by BTIG Research in a research note issued on Monday,Benzinga reports. They currently have a $2.50 price target on the stock. BTIG Research’s price objective would suggest a potential upside of 123.21% from the company’s previous close.

A number of other brokerages also recently weighed in on LUCD. Needham & Company LLC restated a “buy” rating and issued a $3.00 target price on shares of Lucid Diagnostics in a research note on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lucid Diagnostics in a report on Monday, December 29th. Ascendiant Capital Markets boosted their price objective on Lucid Diagnostics from $8.00 to $8.25 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Finally, Wall Street Zen upgraded Lucid Diagnostics from a “sell” rating to a “hold” rating in a research note on Saturday. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $3.94.

Lucid Diagnostics Price Performance

Shares of LUCD stock opened at $1.12 on Monday. The firm has a 50-day moving average of $1.30 and a 200-day moving average of $1.18. The company has a market cap of $154.20 million, a P/E ratio of -1.17 and a beta of 1.18. Lucid Diagnostics has a one year low of $0.95 and a one year high of $1.80.

Lucid Diagnostics (NASDAQ:LUCD) last released its quarterly earnings results on Thursday, March 26th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.03). The company had revenue of $1.50 million for the quarter, compared to analyst estimates of $1.39 million. As a group, research analysts expect that Lucid Diagnostics will post -0.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lucid Diagnostics

Several large investors have recently modified their holdings of the stock. Bank of America Corp DE raised its stake in shares of Lucid Diagnostics by 41.5% in the third quarter. Bank of America Corp DE now owns 40,663 shares of the company’s stock valued at $41,000 after buying an additional 11,917 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Lucid Diagnostics by 35.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 86,302 shares of the company’s stock worth $129,000 after acquiring an additional 22,727 shares during the period. Quadrature Capital Ltd purchased a new stake in Lucid Diagnostics in the 2nd quarter worth about $29,000. Centiva Capital LP bought a new stake in Lucid Diagnostics in the 3rd quarter valued at about $25,000. Finally, Sprott Inc. bought a new stake in Lucid Diagnostics in the 3rd quarter valued at about $25,000. Hedge funds and other institutional investors own 74.01% of the company’s stock.

About Lucid Diagnostics

Lucid Diagnostics is a molecular diagnostics company focused on improving early detection of oral and oropharyngeal cancers. The company’s flagship offering, the LucidDx Oral Cytology Brush Test, combines a minimally invasive brush biopsy tool with proprietary laboratory analysis to identify cellular abnormalities indicative of malignancy. Samples collected in dental and medical offices are sent to Lucid’s CLIA-certified and CAP-accredited laboratory, where advanced imaging and cytopathology workflows generate diagnostic reports for clinicians and patients.

Since commencing commercial operations, Lucid Diagnostics has worked to integrate its testing platform into dental practices, oral surgery clinics and ENT specialists across the United States.