Analyst Michael Matson of Needham maintained a Buy rating on Lucid Diagnostics, retaining the price target of $3.00.
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Michael Matson has given his Buy rating due to a combination of factors, chiefly the company’s progress in expanding EsoGuard testing volumes and advancing along the path toward broader reimbursement. He also appears encouraged by management’s detailed commentary on how test utilization is ramping and what that implies for future revenue visibility and growth.
Moreover, his constructive stance reflects increased clarity around billing dynamics with private insurers and the recently discussed U.S. Department of Veterans Affairs agreement for EsoGuard. Additional insight into the firm’s margin structure and profitability potential further supports the view that Lucid Diagnostics is positioned to benefit financially as volumes and reimbursement coverage improve.
In another report released on April 9, Ascendiant also maintained a Buy rating on the stock with a $9.00 price target.