Maxim Group analyst Anthony Vendetti has maintained their bullish stance on LUCD stock, giving a Buy rating yesterday.
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Anthony Vendetti has given his Buy rating due to a combination of factors including Lucid Diagnostics’ recent financial performance and strategic advancements. The company reported second-quarter revenue that surpassed expectations, demonstrating strong financial health despite a slight decline in testing volumes. Lucid Diagnostics is actively working towards securing broader reimbursement coverage, with a key Contractor Advisory Committee meeting scheduled to review clinical evidence for Medicare coverage, which is anticipated by the end of 2025.
Additionally, the company has initiated patient testing under its first commercial insurance policy and has partnered with a significant regional healthcare provider to expand its EsoGuard testing program. These developments indicate a promising trajectory for future revenue growth and market penetration. Despite a reduction in the 12-month price target due to delayed Medicare coverage, the company’s innovative diagnostic technology and strategic partnerships support a positive outlook, justifying the Buy rating.
In another report released yesterday, Needham also reiterated a Buy rating on the stock with a $3.00 price target.
LUCD’s price has also changed moderately for the past six months – from $1.360 to $0.981, which is a -27.87% drop .