Analyst Kyle Mikson CFA of Canaccord Genuity maintained a Buy rating on Lucid Diagnostics, retaining the price target of $3.00.
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Kyle Mikson CFA has given his Buy rating due to a combination of factors that indicate positive trends for Lucid Diagnostics. The company’s recent financial performance, as reported in their 2Q25 results, showed revenue surpassing expectations, with $1.2 million generated compared to the estimated $1.0 million. This suggests a strong average selling price for the EsoGuard test, which is an encouraging sign for future revenue growth. Despite higher cash burn than anticipated, Lucid Diagnostics maintains a healthy cash reserve, aligning closely with forecasts.
Kyle Mikson CFA’s rating is based on the anticipation of significant growth potential for Lucid Diagnostics, particularly with the upcoming MolDX Contractor Advisory Committee meeting, which could lead to Medicare coverage for EsoGuard. Such coverage is expected to boost test volumes and revenue substantially. The company’s strategic efforts to expand market penetration and generate clinical evidence are also key factors that are likely to enhance acceptance and coverage of their innovative esophageal cancer diagnostic test, contributing to a positive long-term outlook.
In another report released on July 28, BTIG also reiterated a Buy rating on the stock with a $2.00 price target.
LUCD’s price has also changed moderately for the past six months – from $1.330 to $0.997, which is a -25.04% drop .