Needham analyst Michael Matson has reiterated their bullish stance on LUCD stock, giving a Buy rating today.
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Michael Matson has given his Buy rating due to a combination of factors related to Lucid Diagnostics’ current performance and its outlook for reimbursement. He notes that while first‑quarter revenue was modestly below expectations, test volumes for EsoGuard continued to grow year over year, operating expenses were contained, and the company finished the quarter with a solid cash position despite a modest increase in cash burn.
Matson also highlights that previously published clinical data and the favorable Contractor Advisory Committee meeting in September 2025 make Medicare coverage for EsoGuard later this year highly probable. He believes that as draft and final Local Coverage Determinations are issued and broader reimbursement from Medicare and other payers is secured, Lucid’s revenue growth should accelerate and better align with test volume trends, supporting his unchanged $3 price target and Buy rating.
According to TipRanks, Matson is a 2-star analyst with an average return of 0.0% and a 41.80% success rate. Matson covers the Healthcare sector, focusing on stocks such as TransMedics Group, Boston Scientific, and Merit Medical Systems.
In another report released today, Canaccord Genuity also reiterated a Buy rating on the stock with a $3.00 price target.