Analyst Anthony Vendetti from Maxim Group maintained a Buy rating on Lucid Diagnostics and keeping the price target at $3.00.
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Anthony Vendetti has given his Buy rating due to a combination of factors that highlight Lucid Diagnostics’ promising future. The company has shown steady growth in testing volumes, which aligns with expectations even before securing broad reimbursement coverage. This growth is bolstered by a positive review from a Contractor Advisory Committee meeting, which underscores the clinical value of their EsoGuard product for detecting esophageal pre-cancer.
Furthermore, Lucid Diagnostics is well-positioned financially, with sufficient capital to support its operations, and is actively working to expand both Medicare and private insurance coverage. The anticipation of Medicare coverage approval by the end of 2025 is a significant catalyst, as it would allow the company to capitalize on a large Medicare-eligible patient population. Additionally, the company’s strategic steps to accelerate commercialization upon securing coverage are seen as prudent, enhancing its market potential. These factors, combined with a compelling valuation and above-average growth expectations, justify the Buy rating.
In another report released today, Canaccord Genuity also maintained a Buy rating on the stock with a $3.00 price target.
LUCD’s price has also changed slightly for the past six months – from $1.100 to $1.110, which is a 0.91% increase.