Needham analyst Michael Matson maintained a Buy rating on Lucid Diagnostics today and set a price target of $3.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Michael Matson has given his Buy rating due to a combination of factors surrounding Lucid Diagnostics. The announcement of a MolDX Contractor Advisory Committee meeting indicates that Medicare Administrative Contractors are seriously considering coverage for EsoGuard, a key diagnostic tool for esophageal precancer testing. This potential coverage is supported by a broad consensus within the gastrointestinal community, backed by professional guidelines, peer-reviewed research, and substantial real-world application.
Although the meeting introduces a delay in the MolDX decision, which was initially expected by mid-2025, the eventual approval could significantly boost Lucid Diagnostics’ financial prospects. The anticipated coverage would allow the company to monetize a larger portion of its testing volume, thereby accelerating revenue growth. Matson views the MolDX decision as a critical catalyst for the company’s stock, reinforcing his positive outlook and Buy rating.
According to TipRanks, Matson is an analyst with an average return of -6.4% and a 38.28% success rate. Matson covers the Healthcare sector, focusing on stocks such as TransMedics Group, Merit Medical Systems, and Establishment Labs Holdings.